Election 2020: Biden’s Policy Initiatives
 – Presented by Mark K. Lund, Financial Planner

Presented by | November 30, 2020

Potential proposals and their legislative requirements.

With the outcome of the presidential election still undecided—and Congress appears divided with Democrats in control of the House and Republicans the Senate—it’s a good time to review what type of legislative support would be needed to pass certain proposals of Joe Biden.

The key item to remember is that any change will follow a process, which would allow some time to evaluate the economic impact. Let’s take a closer look at four examples:

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. 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

Right now, it’s uncertain what proposals will be taken up. Many items were discussed during the campaign, but what initiatives will take priority may become more clear in the weeks and months ahead.

If you are concerned about one or more of these policies, it may prudent to contact your financial planner. There’s little doubt they would welcome the chance to provide some guidance during this time.

If you ever have any questions about your investments or retirement plans, please feel free to give me a call at 801-545-0696.

 

Citations.
WStreet.com, November 4, 2020

This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal,

Category: Blog, Newsletters

About the Author ()

Mark K. Lund is the author of The Effective Investor, a #1 Best Seller, and founder of Stonecreek Wealth Advisors, Inc. an independent, fee-only, Registered Investment Advisory firm. He has provided articles for or been quoted in: The Wall Street Journal, The Salt Lake Tribune, The Enterprise Newspaper, The Utah Business Connect Magazine, US News & World Report, and Newsmax.com, just to name a few.  Mark publishes two newsletters called, “The Mark Lund Growth Report” and “Mark Lund on Money.”  Mark provides CPE (continuing professional education) courses for CPAs.  You may also have seen him on KUTV Channel 2, or as a guest speaker at a local association or business. Mark provides investment and retirement planning services for individuals and 401(k) consulting for small businesses. In his book, The Effective Investor, Mark exposes the false narrative magazines, media, big Wall Street firms, and most advisors want you to believe. The good news is that Mark will show you that you don’t need their speculative ways of investing in order to be a successful investor. Get a free copy when you schedule your initial consultation.

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