State of the Union overview: What’s next for tax policy?

Part of the Tax News & Views podcast series

President Biden recently held his annual State of the Union address, and while tax was not center stage, he did point to three important tax proposals during his speech. In this episode, Deloitte Tax Policy leaders discuss the specifics of these proposals and how they may have an impact on the current tax landscape.

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State of the Union overview: What’s next for tax policy?

On February 7, during his State of the Union address, President Biden hit on a few key tax issues including raising tax on stock buybacks, reviving the wealth tax, and a child tax credit extension, all that could have major implications for taxpayers and serve as precursors to larger US tax decisions. In this episode, Deloitte Tax Policy specialists Jonathan Traub and Anna Taylor discuss what implications, if any, Biden’s proposals would have and what challenges stand in the way:

With the debt limit reached in January and the drop-dead date in June, the deadline for an agreement is closing in, but it’s too soon to say if a tax package will be included in any proposal.

—Anna Taylor

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