Fight Over Democrats’ Avoidance Crackdown Looms Large: BGOV Tax

Girding to Fight Democrats’ Avoidance Crackdown

The tax-planning industry is preparing to fight Democrats’ renewed interest in cracking down on strategies that wealthy Americans use to reduce their tax bills.

With political winds potentially blowing in Democrats’ favor in the November midterm elections, lawmakers looking to retake power reintroduced bills reining in legal tax avoidance strategies as populist messaging becomes a core part of their campaign message.

“This is a chance to look at some of the areas where there are real questions about whether people are exploiting the tax code in an unfair way,” Senate Finance Committee ranking ...