Tax News Update    Email this document    Print this document  

January 7, 2021
2021-0037

Washington in 2021 | Democrats control White House and Congress

Democrats Jon Ossoff and Raphael Warnock won the Georgia runoff elections, giving Democrats control of the Senate beginning later this month. With the parties split 50-50 in the Senate, Vice President-elect Kamala Harris will break ties, allowing major priorities like stimulus, climate change, and health care, potentially paid for with tax increases, to be brought up and passed in the House and Senate. The party ratio in the chamber was going to be narrow under either Georgia runoff scenario, requiring bipartisan cooperation for much to get done, but Senate control affords Democrats additional options like budget reconciliation.

This publication from Washington Council Ernst & Young, and attached below, provides additional details.

———————————————
ATTACHMENT

Washington in 2021

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement