How Soon Could Biden’s New Tax Plan Begin?

How Soon Could Biden’s New Tax Plan Begin?

(AbsoluteNews.com) – During the presidential campaign, Democratic candidate Joe Biden vowed to raise taxes. The former vice president repeated the Left’s favorite line about making the wealthy and corporations pay their fair share. Something these job creators already do, but we digress. As we move closer to Inauguration Day, we’re still unsure who the next commander-in-chief will be, but let’s take a look at what happens if Biden wins.

What does this mean for the tax plan he wants to implement?

Well, it’s important to keep in mind that to implement a tax overhaul, Biden would have to get a bill through both chambers of Congress. If Republicans still control the Senate after the Georgia runoffs, then it’s very unlikely the Democrats will be able to get legislation through that raises taxes, especially since GOP voters hate Biden’s plan.

If Democrats take control of the Senate, then Biden will probably pass a bill. In that case, it probably wouldn’t go into effect until 2022 at the earliest. Of course, if President Trump wins a second term, Biden’s tax plan will be nothing but a bad memory.

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