The first presidential debate between President Joe Biden and former President Donald Trump interrogated immigration, economic policy, and, notably, taxes. Geltrude & Company founder Daniel Geltrude joins Wealth! to give insight into both candidates’ tax policies and what they mean for Americans and the economy.
Geltrude stresses that unless the winning presidential candidate has both houses of Congress, it is "very unlikely" that there will be tax changes: "You’re going to have gridlock, especially over a topic like taxes, which becomes very sensitive," Geltrude adds.
"Now, what will happen … is the Trump tax cut will sunset at the end of 2025. So if nothing happens in terms of new legislation with taxes, we are going to go back to what the tax laws were for individuals," Geltrude tells Yahoo Finance.
#news #youtube #taxes
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
