{"id":2159,"date":"2021-04-12T15:49:48","date_gmt":"2021-04-12T19:49:48","guid":{"rendered":"https:\/\/www.thewealthguardians.com\/staging\/3023\/?p=2159"},"modified":"2022-01-06T16:37:49","modified_gmt":"2022-01-06T21:37:49","slug":"paying-for-the-infrastructure-bill","status":"publish","type":"post","link":"https:\/\/www.thewealthguardians.com\/staging\/3023\/paying-for-the-infrastructure-bill\/","title":{"rendered":"Paying for the Infrastructure Bill"},"content":{"rendered":"

<\/p>\"\"\n

President Joe Biden introduced the much-anticipated American Jobs Plan, which outlines an approach to spend roughly $2.2 trillion on the nation\u2019s infrastructure and other projects.<\/p>\n

As part of the legislative process, the Biden administration also laid out a proposal for paying for the domestic investment. The plan includes raising the corporate tax rate to 28% from 21%, cracking down on companies that use overseas operations to manage profits, and eliminating tax breaks for some industries.1<\/sup><\/p>\n

Right now, the proposal does not include any new taxes on individuals. It\u2019s only targeting corporations expecting that the 8-year plan would pay for itself in 15 years.2<\/sup><\/p>\n

But some believe that in the coming weeks, the Biden administration intends to put forward additional tax initiatives that target high-earning Americans.<\/p>\n

One proposal that may get introduced would raise taxes on families who earn more than $400,000 a year. There also has been discussion about a higher capital gains tax rate for individuals earning at least $1 million a year and adjustments to the estate tax exemption.3<\/sup><\/p>\n

\"\"<\/a><\/p>\n

\n

> CLICK HERE TO GET YOUR COPY OF OUR FREE GUIDE<\/em><\/strong><\/span><\/a><\/p>\n<\/blockquote>\n

At this point, it\u2019s uncertain what\u2014if any\u2014tax changes for individuals will be taken up by Congress. The initiatives that will take priority may become more clear in the weeks ahead.<\/p>\n

Challenge yourself to be patient during this period of debate over tax proposals. If they introduce changes, a sound analysis should drive portfolio decisions, not knee-jerk reactions to current events. Remember, this letter is for informational purposes only. It is not a replacement for real-life advice, so make sure to consult your tax, legal, and accounting professionals before modifying your tax strategy.<\/p>\n

If you are concerned about one or more of these proposals, please give us a call. We\u2019d welcome the chance to hear your perspective, and hopefully, we can provide some guidance.<\/p>\n

Give us a call at our Charlotte office at (704) 248-8549, or our Clemmons office at (336) 391-3409. Or, click here to request a no-cost, no-obligation meeting.<\/u><\/em><\/strong><\/span><\/a><\/p>\n

\n

[SOURCES & ADDITIONAL DISCLOSURES]<\/strong><\/p>\n

    \n
  1. CNBC.com, March 31, 2021<\/li>\n
  2. USAToday.com, March 31, 2021<\/li>\n
  3. Bloomberg.com, March 14, 2021<\/li>\n<\/ol>\n

    <\/p>\n<\/body>","protected":false},"excerpt":{"rendered":"

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