On February 9, President Obama released the fiscal year (FY) 2017 federal government budget. The budget contains new, modified, and renewed tax proposals, and calls for:
- Expanding middle-income tax incentives.
- Tweaking the Affordable Care Act’s excise tax on high dollar health plans and net investment income (NII) tax.
- Imposing a fee on oil to fund infrastructure spending.
- Renewing tax proposals from previous budgets, particularly in the international and retirement savings areas.