Thought Leadership

Considerations for a Biden Administration - Tax


We are ready to help our clients navigate the potential legal and regulatory changes that could arise under a Biden Administration, as affected by the final outcome of the U.S. Senate races – including tax proposals that will have significant impact on corporations and individuals.

Some Tax considerations under a Biden Administration include:

  • Democratic control of both the House and the Senate will likely be necessary to enact fully Biden’s campaign proposals to increase corporate and certain individual tax rates and to reduce the estate and gift tax exemption.
  • If the Republicans retain control of the Senate, the Biden administration will likely need to work with the Republican leadership of the Senate as well as the Democratic leadership of the House on tax proposals that include elements of Biden’s campaign tax proposals and Republican tax priorities.
  • A Biden administration is expected to pursue extending and increasing tax incentives for renewable energy projects such as wind and solar, as well as for the development of carbon capture technology.
  • Executive compensation will likely also draw continued scrutiny, consistent with Biden’s campaign proposal to increase tax rates on high income earners.
  • We expect continued major developments at the state and local tax level in light of the election and COVID-19, including nexus, apportionment, and withholding issues due to employees working from home in various states.

Baker Botts is working with clients to prepare for, and help inform, these initiatives. Learn more on how a Biden Administration will likely affect Taxes, as well as Antitrust & Competition, Energy, Environmental, Safety and Incident Response, FERC, Intellectual Property, SEC Enforcement and Securities Litigation, Trade and White Collar & Corporate Investigations:


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