A Rising Tax Environment? What to Watch For.
Nationwide Financial
AUGUST 29, 2022
According to current GAO projections, the debt will hit a record of 107% of GDP in 2028. [ii] ii] With this as a backdrop, it is not surprising that President Biden’s 2023 federal budget included proposals to raise income taxes for high earners. If the TCJA sunsets, the 2017 tax brackets will have to be indexed from 2017 numbers.
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