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Plan to Curb Land Conservation Break Out of Tax-and-Spend Plan

Oct. 27, 2021, 11:12 PM

A plan to restrict tax-advantaged land deals that the IRS says are often used as tax shelters is no longer being considered for inclusion in a social spending package.

House Ways and Means Democrats included curbs on syndicated conservation easement transactions in their plan to raise revenue for the budget reconciliation package. Restricting the tax break was projected to bring in $12.5 billion in revenue over a decade, according to an estimate by the non-partisan Joint Committee on Taxation.

  • A congressional Democratic aide familiar with the negotiations said the easements proposal is being dropped because of objections by Sen. ...

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