Davis Polk Releases Client Update on Potential Tax Reform in 2025 and Beyond

In a recent client alert, Davis Polk highlights potential areas for tax reform in the next Congress and presidential administration. One area focus will be on the sunsetting provisions from the Tax Cuts and Jobs Act of 2017 (TCJA) and possible changes to provisions added by the 2022 Inflation Reduction Act (IRA). Areas of the tax code that could be impacted include:

• Individual Income Tax Rates
• Corporate Tax Rates
• Renewable Energy Tax Credits
• Business Interest Deduction
• State and Local Tax Deduction (SALT)
• Foreign-derived Intangible Income (FDII)
• Global Intangible Low-taxed Income (GILTI)
• Stock buyback tax

Davis Polk recommends that “these tax considerations should be weighed against the risk of uncertainty over general regulatory and economic policies.”

Click here to read the Davis Polk client alert highlighting potential areas for tax reform in the second Trump presidency.