Election Day is just under a month away. Will there be a “blue wave”? Will Republicans maintain control of the Presidency and the Senate? Who knows? But, at a high level, we can compare what tax policies may be implemented in 2021 (or shortly thereafter) based on the 2020 election results.
President Trump’s tax policies largely came to fruition with passage and implementation of the Tax Cuts and Jobs Act (TCJA) in December of 2017. Aside from some minor tweaks and continuing to push for certain measures See more +
Election Day is just under a month away. Will there be a “blue wave”? Will Republicans maintain control of the Presidency and the Senate? Who knows? But, at a high level, we can compare what tax policies may be implemented in 2021 (or shortly thereafter) based on the 2020 election results.
President Trump’s tax policies largely came to fruition with passage and implementation of the Tax Cuts and Jobs Act (TCJA) in December of 2017. Aside from some minor tweaks and continuing to push for certain measures that did not make it into the TCJA, President Trump’s tax proposals for his second term are minimal.
On the other side, Joe Biden’s tax agenda is still developing and an official tax plan with technical details has not been released. However, the Biden campaign recently released a document comparing Biden’s tax proposals to President Trump’s proposals and policies. Biden’s campaign website includes additional policy proposals on a variety of topics, like domestic manufacturing, clean energy, infrastructure, housing, health care, etc., many of which contain tax measures or components. See less -
