On Tuesday, President Biden shared his policy aspirations during the State of the Union address. The commander in chief outlined three tax proposals in his remarks: quadrupling the brand-new excise tax on stock buybacks, instituting a “billionaire minimum tax,” and extending the now-lapsed expanded Child Tax Credit. Erica York and Alex Muresianu from the federal tax policy team joined Jesse to give a run-down of Tuesday night’s events. They discuss the prospects of major tax changes becoming law in a divided government and what these proposals signal about how President Biden thinks about tax policy as he enters the latter half of his first term. Links: https://taxfoundation.org/biden-state-of-the-union-tax-proposals/ https://taxfoundation.org/inflation-reduction-act-stock-buybacks/ https://taxfoundation.org/biden-billionaire-tax-unrealized-capital-gains/ https://taxfoundation.org/child-tax-credit-reform/ https://taxfoundation.org/biden-administration-tax-proposals/ https://www.wsj.com/articles/why-does-the-u-s-tax-code-penalize-r-d-big-tech-innov[…]acturing-production-growth-inflation-silicon-valley-11674415751 Support the show