With the COVID-19 vaccination rates accelerating in the U.S. and the pandemic easing in many parts of the country, the U.S. economy continues to improve with the latest unemployment report indicating a strong recovery – the best gains since August 2020. As stay-at-home orders are lifted and more states permit businesses to fully reopen, the Biden Administration has shifted its attention to upgrading the nation’s aging infrastructure.
As of April 2021, the recently proposed American Jobs Plan, seeks to address deferred maintenance by modernizing roads, bridges and highways across the country, investing in clean energy, and incentivizing advanced research and development and manufacturing in order to enhance the nation’s competitiveness on the global stage. A key component of this $2 trillion infrastructure plan is the Made in America Tax Plan which seeks to generate revenue by raising taxes on high net-worth individuals and corporations.
Possible Federal Tax Law Changes on the Horizon
April 22, 2021