Tag Archives: Biden and taxes
On March 28, the Biden administration unveiled its fiscal budget for 2023, indicating its plan to “cut costs for families, cut the deficit and expand the productive capacity of the economy.” Among the provisions included in the budget are higher tax rates for corporations and individuals, including a new minimum tax on billionaires. Whether these […]
High-net-worth families breathed a collective sigh of relief as 2021 concluded without Congressional approval of the White House’s Build Back Better economic and social services agenda. However, even with the potential demise of the bill and many of its previously proposed tax consequences, wealthy families should not put on hold the estate-planning strategies they already […]
The House Budget Committee voted on September 25 to approve a proposed $3.5 trillion spending and tax bill to support the president’s economic agenda. As expected, the draft legislation includes provisions calling for higher taxes on the wealthy. However, it also includes a series of measures that would essentially nullify the benefits of some estate-planning […]
On April 28, 2021, President Biden addressed the nation and outlined his plans for reforming the U.S. tax code to help pay for a proposed $2.3 trillion American Jobs Plan and a more recently unveiled $1.8 trillion American Families Plan. Whether the provisions included in the president’s plans will ultimately pass into law remains to […]
