02/14/2020 | Press release | Archived content
Bloomberg News has quoted Akin Gump public law and policy partner Arshi Siddiqui in the article 'Democratic 2020 Win Would Mean Tax Overhaul, Ex-Trump Aide Says.' The article reports on the likelihood of new tax legislation if a Democrat were to win the presidential election this year.
Democratic contenders, the article says, are already preparing for that possibility, with every major candidate having released plans that include trillions of dollars in tax increases on wealthy individuals and corporations. Those plans, according to Bloomberg, would reverse much of the $1.5 trillion tax law passed by Republicans in 2017.
Changing capital gains taxes, particularly for high earners, is likely to be an area of agreement if any Democrat were to win the White House, said Siddiqui. 'I'd put more money on the Democratic vision being more about the question of how you tax work and how you tax capital,' she said.