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Companies Revisit Financial Forecasts Ahead of Potential Tax Changes

Companies are ramping up their financial forecasting and planning to prepare for potential changes to the U.S. tax code under the incoming Biden administration, which are now more likely after Georgia’s runoff elections handed Democrats control of the Senate.

Joe Biden, who will be inaugurated as U.S. President on Wednesday, during the election campaign proposed reversing elements of the 2017 tax overhaul that lowered the federal tax rate for companies from 35% to 21%.

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