Insights + Resources

Election 2020: Biden Policy Initiatives

Nov 11, 2020

election decision biden wins presidency
Potential proposals and their legislative requirements

Now that several major news groups have projected Joe Biden the winner of the presidential election—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.

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 as the inauguration of Vice President Joe Biden 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 professional. There’s little doubt they would welcome the chance to provide some guidance during this time.

For additional insights and resources, be sure to sign up for our Weekly Market Commentary, follow our YouTube channel where we regularly post our Epic Market Minute videos, follow us on LinkedIn, or like us on Facebook. And as always, please don’t hesitate to reach out to a dedicated service professional at Epic Capital.

Tags: , , ,

More Insights

May 12, 2021

The San Diego Padres signed infielder Fernando Tatis, Jr., to a 14-year, $340 million contract roughly one year after the Los Angeles Dodgers inked outfielder Mookie Betts to a 12-year, $365 million deal. That brings the total to 8 baseball players who have signed long-term, $300+ million contracts. Think he needs estate planning?

May 10, 2021

What does it mean when two of the most powerful voices in American financial life seem to be saying two different things? In one corner, we have the “Oracle of Omaha,” investor Warren Buffett. As one of the nation’s richest people and most frequently sought opinions on business matters, he’s a voice that gets a … Continue reading “Buffett and Powell Talk Inflation”

May 7, 2021

How can you help cover your child’s future college costs? Saving early (and often) may be key for most families. Here are some college savings vehicles to consider

May 5, 2021

Will your retirement dreams match your reality? That’s perhaps the most critical question to ask people who are currently retired. Was your retirement what you expected, or was it something else?

May 3, 2021

A recent survey charting investor sentiment shows that 63% of investors are more interested in protecting their financial assets and planning for uncertainty in the future than anything else.1 There are many reasons for this change, but here are a few of the most impactful to keep in mind.

Insights + Resources >