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2020 election – potential tax implications

Part of the Tax News & Views podcast series

With the US Presidential election less than two months away, now is the time for tax executives to understand the candidates’ tax plans and policies to ensure they are ready no matter the election results.

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Tax podcast: 2020 election – potential tax implications

September 10, 2020

With the US Presidential election quickly approaching, it’s crucial to understand how the candidates’ tax policies could impact your enterprise.

On this episode, Deloitte’s Jon Traub, Victoria Glover, and Alex Brosseau discuss the tax plans put forth by the presidential candidates, how they could impact the federal budget and deficit, and what tax executives should be looking for between now and Election Day.

The candidates really couldn’t be coming from more different places. As a general thematic matter, Vice President Biden’s tax policies can be described as generating additional revenue, mostly from corporations and wealthy individuals, in order to pay for desirable social policies. On the other hand, President Trump, who has a less well-articulated tax policy on his campaign, can generally be seen as somebody who mostly wants to extend current tax law.

– Jon Traub

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