President Biden’s “American Families Plan” includes $1 trillion of spending and $800 billion of tax cuts over a 10-year period. It would largely be funded by tax increases targeted for high-income taxpayers, raising $1.5 trillion over a decade. Here’s a look at the plan and important planning considerations.
How might the Consolidated Appropriations Act (CAA), passed in late December 2020, impact your financial planning in 2021? We highlight provisions from the CAA and four other updates that you should know about in 2021.