Executive summaryThe latest version of the Build Back Better Act (the BBBA Draft), which the House Rules Committee released on 28 October 2021, includes significant changes to the international tax provisions of the Internal Revenue Code1 (IRC). These and other tax changes are generally intended to fund expanded social programs such as health coverage, affordable housing, universal pre-kindergarten and childcare, clean energy and climate investments, among other proposed spending provisions.Although largely consistent with the House Ways & Means Committee draft (the HW&M Proposal) released on 13 September 2021, the BBBA Draft contains many important changes to those proposed provisions, such as updates to...