- The Biden administration is proposing various corporate tax changes that, according to the U.S. Treasury, could generate an estimated $2 trillion over the next decade.
- Although the Democrats have a small majority in the House of Representatives, their 51 - 50 advantage in the Senate (with the Vice President's deciding vote) is well below the 60 votes typically needed to advance legislation.
- At this point, markets appear to be taking a "wait-and-see" approach to the infrastructure and tax package since passing legislation of this magnitude will take time and likely require compromise, even among Democrats.
For further details see:
What Is The Toll On This Road?