White House's Brainard Says Americans Strongly Support 'Fairer' Tax System Where Ultra-Wealthy And Corporations Pay More; Extending Tax Cuts Without Paying For Them And Boosting Deficit By $5T Is Not Acceptable
Portfolio Pulse from Benzinga Newsdesk
White House's Brainard emphasized the strong support among Americans for a fairer tax system where the ultra-wealthy and corporations contribute more. She criticized extending tax cuts without funding them, which could increase the deficit by $5 trillion.
September 16, 2024 | 4:56 pm
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The SPY ETF, representing the S&P 500, may be impacted by potential changes in tax policy affecting corporations. Increased taxes on corporations could affect their profitability and, consequently, the performance of the SPY.
Brainard's comments suggest a push for higher taxes on corporations, which could reduce their net income. As SPY tracks the S&P 500, which includes major corporations, this could negatively impact its performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50