October 28, 2021
Broker Implications in Biden’s Democratic Agreement
Health & Benefits Implications
|Clearly, the package has been significantly curtailed due to the objections raised by Sens. Kyrsten Sinema and Joe Manchin. We are grateful for their stance in opposition to several provisions that could have negatively impacted brokerage taxation.
The devil will be in the details. In particular, we expect to see a continuation of debate on the extent and implementation of global minimum tax provisions. Other provisions aimed at higher-wealth taxpayers could have spillover impact.