US Treasury releases ‘Green Book’ explanation of tax proposals in FY 2025 budget

These proposals, as explained in the Green Book, would increase and reform corporate taxation, as well as increase individual taxes on those with annual earnings exceeding $400,000.

The United Sates (US) Treasury Department has released the ‘Green Book’, which contains explanation of the tax proposals in the Biden Administration’s FY 2025 budget. Most of the Administration’s revenue proposals are familiar, having been included in previous budgets. However, the Administration is unveiling new proposals in a few areas including proposals to increase in the corporate alternative minimum tax (CAMT), limit depreciation and increase certain fuel taxes for some private planes...

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Authors: Danielle Rolfes

Published Date: 14 March 2024