Provided By: Taylor McClish
As election season draws to a close, it’s a great time to
review what type of legislative support would be needed to pass certain policy
proposals that may come forward from the Biden Administration.
It’s important to remember that legislative changes take
time, and it remains unclear what initiatives may take priority in the months
ahead, especially with the ongoing pandemic.
It would also be foolish to think that the 117th United
States Congress won’t move forward with some new ideas and proposals. As has
been said, "elections have consequences."
Let’s take a closer look at some of the policy proposals and
what they require to pass:
*Repealing the 2017 Tax Cuts and Jobs Act.
This type of legislation would need the approval of the House of
Representatives and 51 Senate votes.1
*Increasing capital gains taxes.
Legislation of this nature also would need the approval of the House of
Representatives and 51 Senate votes.1
*Providing additional fiscal stimulus, such as $2,000
checks. For this type of measure, legislation would need to move
through the House and get 60 Senate votes.1
*Evaluate China tariffs, other tariffs.
The president can use his executive authority to move these concepts forward.1
If you are concerned about one or more of these potential
policy initiatives, please give us a call. We’d welcome the chance to hear your
perspective, and hopefully, we can provide some guidance.
Sincerely,
Taylor McClish
Taylor McClish may be reached at (503) 239-3060 or Taylor.McClish@cunamutual.com
Oregonians Financial Planning Website
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by MarketingPro, Inc. to provide information on a topic that may be of interest. MarketingPro, Inc., is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.
Citations.
1. WStreet.com,
January 8, 2021
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