Washington Update

This presentation provides an overview of the current political state of play, election results, etc. It outlines what that state of play could mean for tax legislating in the lame duck session of 2024, after the 199th Congress is seated in 2025, and beyond. Included is a discussion of tax platforms of leading elected officials, expired and expiring elements of the Tax Cuts and Jobs Act, and how those topics could merge in 2025, based on the November 2024 election results. The presentation concludes with a discussion of a long-term budget and economic outlook, budget reconciliation (if applicable), and how those issues will impact negotiations over the future of tax policy.