D.C. Memo: BEAD Tax Exemption Costs $2.5 Billion in First Six Years: JOT

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BEAD: A Capitol Hill staff analysis in 2023 projected that a bill that would exempt BEAD grants from federal taxation would cost taxpayers about $2.5 billion from 2023 to 2028 before dropping to $578 million by 2033. The analysis was done by the Joint Committee on Taxation (JOT) for Sen. Mark Warner, who is co-sponsoring the exemption bill with Sen. Jerry Moran (R-Kan.). At the March 11 INCOMPAS Policy Summit, Moran said the bill would cost about $400 million but he was not more specific. He said the bill needed to be included in the pending reconciliation bill to have a chance of becoming law. “So, it needs to happen there. It's a modest amount of money, a few hundred million dollars, $400 and some million dollars. If there's any Kansan in the room, don't think I don't think $400 million is a lot of money, but it in the overall scheme of reconciliation, it's a small portion,” Moran said. (Continued after paywall.)