NMCO - 3 Reasons Why The Senate Race Matters For Municipal Bonds

• With the odds against the Democrats winning both Senate seats in the Georgia runoff, the Biden administration will likely have to work with a Republican Senate majority to navigate various tax policy issues in the coming year.
• Infrastructure seems to be the one topic that a potentially divided government may be able to agree on.
• While Biden will likely not be able to enact the entirety of his tax plan with a divided Congress, he could use the power of the executive order to raise taxes in specific areas or to reinterpret regulations tied to the 2017 Tax Cuts & Jobs Act.

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