Surveillance: Basak on Gorman Resigning
Bloomberg Surveillance
00:00
Renminbi Out Past Seven
In 2025, right after this next presidential election cycle, the entirety of the 2017 tax cuts on the individual side expire. If there is a red wave in the 24 election, what you can see is a material reconciliation bill that is basically a repeat of 2017. That was a $5 trillion tax bill, $1.5 trillion, which was deficit financed. So you can very easily see that all over again, although this time it was more expensive in 2026.
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