U.S. Treasury's Yellen Says President Biden Wants To See His Successor Make Sure That Households Earning Under $400,000 See No Increase In Taxes; Biden Wants To See Tax Fairness IWTH Higher Taxes On Wealthy And Corporations
Portfolio Pulse from Benzinga Newsdesk
U.S. Treasury Secretary Janet Yellen stated that President Biden aims to ensure that households earning under $400,000 do not see a tax increase. Biden also seeks tax fairness with higher taxes on the wealthy and corporations.
July 30, 2024 | 3:10 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience volatility as President Biden's tax policies could impact corporate earnings and investor sentiment.
Biden's tax policies could lead to mixed reactions in the market. While protecting lower-income households may be seen positively, higher taxes on corporations could impact earnings and investor sentiment, leading to potential volatility in SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50