Tax Changes Could be Coming in 2021

There is soon to be a new administration in Washington, D.C., and often that means changes in tax policy, reported 95.3 MNC.

“We are expecting to see legislation, maybe big tax legislation, fairly soon in the first six months,” said Pat Wolff, AFBF Senior Director, Congressional Relations. “And the reason for that is the Democrats have talked about some big policy changes in the next Congress. Different parties have different policies, and as I’ve said, the Republicans have spent the last couple of sessions in Congress enacting business-friendly policies. The Democrats have said that they would like to focus more on individuals, and they’re talking about raising taxes on high-net-worth individuals and businesses.”