U.S. Treasury Estimates That Tax Credits For Children, Health Insurance, Home Buyers And Sellers, Other Family Support Would Cost $764.9B Over 10 Years; Biden Budget Plan Would Raise Us Tax Receipts By $4.951T Over Decade-Treasury
Portfolio Pulse from Benzinga Newsdesk
The U.S. Treasury estimates that tax credits for children, health insurance, home buyers and sellers, and other family support initiatives would cost $764.9 billion over 10 years. Concurrently, the Biden budget plan aims to increase U.S. tax receipts by $4.951 trillion over the same period.
March 11, 2024 | 6:08 pm
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NEUTRAL IMPACT
The Biden budget plan's impact on tax receipts and spending on family support initiatives could influence market sentiment and economic outlook, potentially affecting SPY.
The SPDR S&P 500 ETF Trust (SPY) is sensitive to changes in U.S. economic policies and outlooks. The proposed increase in tax receipts and spending on family support initiatives could have mixed effects on the economy, influencing investor sentiment and potentially affecting SPY's performance in the short term. However, the direct impact is uncertain, hence a neutral score.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50