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Marc Gerson Comments on Tax Cut Extensions in InvestmentNews

Subtitle
"Trump Administration Budget Would Extend Expiring Income, Estate Tax Cuts"

InvestmentNews

Marc Gerson, former tax counsel to the U.S. House of Representatives Committee on Ways and Means, commented on the Trump Administration's proposed budget for fiscal year 2021, which would extend the individual and estate tax provisions of the Tax Cuts and Jobs Act (2017) beyond their current expiration in 2025. Trying to make significant changes to the tax code this year is not likely, according to Gerson. "The revenue issue is a very significant one, especially in an election year," he said, adding that the tax policy contained in President Trump's budget will likely become campaign fodder. "It will stand in contrast to the proposals of the Democratic presidential candidates."