Taxes and Policy

Written By web mhd

11/20/24

Now that the election is over, what will the new administration prioritize in the new year?

Here are a few things we’re watching in the months ahead:

The debt ceiling debate may reignite in early 2025.

The debt ceiling, the cap on the total amount of debt the U.S. can hold, has been suspended as

part of a deal made in the last Congressional fight.

When the cap returns in January, it may kick off a fresh round of debates and draw attention to

the more than $35 trillion the U.S. holds in debt. (1)

Will lawmakers take action to stem deficit spending? Or will they continue to kick the can down

the road? (2)

We'll have to wait and see.

Tax cuts may be extended past 2025.

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