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Seeking Clarity on Tax Reform Thumbnail

Seeking Clarity on Tax Reform

This past April, the Biden administration announced the $1.8 trillion American Families Plan, which would expand access to education, affordable childcare and various tax credits. The plan (as proposed) would largely be funded by additional taxes on high earners. Since that time, taxpayers have been left wondering whether tax reform could become a reality, and if so, to what extent. While negotiations are still ongoing, we summarize recent political developments and the outlook for upcoming tax legislation.

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