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ARTICLE · 20 AUGUST 2024

2024 Pre-Election Analysis: Tax Issues

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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As the 2024 general election draws near, one of the central issues capturing the attention of voters and lawmakers alike is the future of tax policy. With the two presidential candidates...

United StatesTax
R. Neal Martin
R. Neal Martin
Alexander Hecht
Alexander Hecht
Frank C. Guinta
Frank C. Guinta
Myria S. Garcia
Myria S. Garcia
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As the 2024 general election draws near, one of the central issues capturing the attention of voters and lawmakers alike is the future of tax policy. With the two presidential candidates offering a range of proposals and control of Congress hanging in the balance, the election results will have significant implications. This pre-election analysis from ML Strategies explores some of the key tax policy proposals put forth by former President Donald Trump and Vice President Kamala Harris as they seek the presidency and highlights what we can expect on Capitol Hill from key leaders on tax policy in the 119th Congress.

The Tax Cuts and Jobs Act (TCJA) of 2017 introduced significant changes to the US tax code, but many of its provisions are set to expire, or "sunset," at the end of 2025. These provisions include significant tax cuts for individuals through lower tax rates and increased standard deductions, as well as the expansion of the child tax credit. Several

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