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President Biden took office in 2021 with the promise to deliver a shift in policy from the previous administration in a number of areas, but the outlook for US tax policy remains uncertain as the 117th Congress begins its second session. This is due in large part to the fact that a narrow House Democratic majority and an evenly-divided Senate have limited the ability of President Biden and Democratic Congressional leaders to advance many of the corporate, international, and individual tax proposals that the president announced in early 2021. 

With the potential for Senate Democrats to have the final say in shaping the tax provisions of the Build Back Better bill, what should business stakeholders be doing now?