As 2017 drew to a close, Congress passed the Tax Cuts and Jobs Act, tax reform legislation that made sweeping changes to the Internal Revenue Code. When Congress last reformed the tax code in 1986, the legislative process took over two years. This time Congress accomplished the same feat in two months. This white paper discusses the portions of the Tax Cuts and Jobs Act that are of particular importance to business owners, investors, and financial advisors. We point out situations that are likely to fare better and those likely to fare worse under the legislation. At the end, we present a chart of “winners and losers” that takes into account these individual situations. The chart also shows business and economic sectors particularly likely to be affected by these tax changes, thereby potentially altering their equity valuations.
POTUS seriously exploring executive action as a solution to stalled Round 4 talks. Focus is on eviction moratorium, unemployment benefits extension & suspension of payroll taxes. Asks agencies to advise him re monies not spent from CARES Act. ow.ly/tBPx50ASwp6
Primary results: Winners-Moderate GOP and Progressive Dems. ow.ly/RsTL50ARuSx ow.ly/cLTp50ARuSs Progress in Round 4 talks. Dems seem to be getting more of what they want. ow.ly/tXgg50ARuSn ow.ly/dq1z50ARuSl ow.ly/qUyp50ARuSz ow.ly/AQS350ARuIy
Round 4 negotiations- Better, but not good. ow.ly/F9Yx50AQtqu ow.ly/Lu1550AQtqp ow.ly/fBYg50AQtqw Trump weighs action. ow.ly/Up3z50AQtqg Meanwhile, it's Primary day! ow.ly/aaA050AQtqn Confused by balloting terminology? ow.ly/5oE550AQtpl
By driving up Democrat mail-in balloting, ballot rejections could provide a slight tailwind for Trump due to higher failure rate and low correction rate vs in-person. ow.ly/8el750APoEG Black voters not as trusting of mail-in. ow.ly/O3qQ50APoEJ
No significant Round 4 negotiation progress made over the weekend. ow.ly/S3Ax50APpn5 With the absence of legislative progress, rumors of Trump taking executive action begin. Hint, his authority is mostly limited. ow.ly/4CRY50APpn7