President Biden Says Will Continue To Push For Tax Reforms That Reduce Deficit By Closing Loopholes And Raising Revenue From Wealthy Americans, Largest Corporations
Portfolio Pulse from Happy Mohamed
President Biden plans to continue pushing for tax reforms aimed at reducing the deficit by closing loopholes and raising revenue from wealthy Americans and large corporations.
June 08, 2023 | 5:14 pm
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Biden's tax reform plans may impact the overall market, as represented by the SPY ETF, due to potential changes in corporate tax rates.
Biden's tax reforms target wealthy Americans and large corporations, which could lead to higher corporate tax rates. This may negatively impact the overall market, as represented by the SPY ETF, as higher taxes could reduce corporate profits and potentially lead to lower stock prices.
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