On 28 October 2021, the House Rules Committee released new proposed legislative text of the Build Back Better Act (the BBBA) to reflect the revised framework announced by President Joe Biden earlier in the day. The BBBA would fund expanded health coverage, affordable housing, universal pre-kindergarten and child care, clean energy and climate investments, in part through significant changes to the international tax rules.While consistent with the BBA version released on 13 September 2021 (the HW&M Proposal), by Chairman Neal of the House Ways & Means Committee (see EY Tax Alert, House Ways and Means Committee Chair proposes comprehensive international tax...