With the Democrats winning control of the U.S. House of Representatives and Senate, the tax legislative outlook has shifted to new priorities and concerns, according to Mel Schwarz, a partner in Grant Thornton’s National Tax Office.
“Republican concerns with lower tax rates and encouraging individual investment will not be entirely pushed aside, but are expected to be joined by Democratic priorities such as providing health care and educational assistance through the tax code, as well as crafting business incentives in a way that encourages domestic employment and a sharing of any benefits with the workforce,” he said.
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