Reported 9 months ago
During the first presidential debate between President Joe Biden and former President Donald Trump, discussions about tax policies were highlighted. Geltrude & Company founder Daniel Geltrude mentioned that without control of both houses of Congress, significant tax changes are 'very unlikely' due to potential gridlock. Geltrude noted that if no new tax legislation is passed, the Trump tax cuts will expire in 2025, reverting to previous tax laws. Each candidate's tax policies differ, with Biden aiming for more taxes on the wealthy and Trump proposing further tax cuts. However, both will face challenges in implementing their tax agendas without control of Congress.
Source: YAHOO