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Biden’s corporate tax plan depends on Georgia’s Senate results

November 16, 2020

Via: Fortune

The two runoff elections in January to choose Georgia’s senators could have a direct effect on the bank balances of companies nationwide. That’s because Georgia’s voters will determine which party controls the Senate, which in turn will heavily influence whether President-elect Joe Biden’s business tax proposals become law.

The stakes are high. Biden has advocated for several tax increases on companies, starting with a substantial increase in the corporate tax rate, currently 21%.

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