
Midterms & Your Wallet
The WealthAbility Show with Tom Wheelwright, CPA
Tax Increases Over the Next Two Years
I think Republicans will hold firm against tax increases over the next two years. I can't imagine what Democrats could possibly give Republicans in order to support new tax hikes. The lawmakers I talked to on the Hill are shifting their focus already to what happens in 2025 when part of the 2017 tax cuts begin to expire. Last time we were in this situation, was when the Bush tax cuts were expiring in 2012, 2013,. Both parties came together then to extend the tax cuts for about 98% of taxpayers and let them expire or raise a little bit at the top for the top 2%.
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