TAXES AND GLOBALISM: It’s difficult to overstate just how influential the 2024 elections will be over U.S. tax policy for years to come. Whichever party gains the most power in Congress and the White House will have the biggest say over how to reckon with the trillions of dollars’ worth of Trump-era tax cuts that are set to expire in 2025.
But besides determining the trajectory for income tax rates, estate taxes and family relief like the Child Tax Credit, among many other items, the 2024 elections will likely also have huge consequences for the international effort to stop multinational companies from shifting their profits to different countries to avoid taxes.
