Stimulus and McConnell Will Likely Inhibit Biden’s Tax Hike Plan

President-elect Joe Biden has pledged to repeal President Donald Trump‘s tax cuts as soon as he is inaugurated, but the ongoing financial crisis and the prospect of a Republican-controlled Senate could waylay that proposal for the foreseeable future.

Biden will likely soon send a deficit-financed economic recovery bill to Congress, delaying any progress on a tax-increase plan for at least a couple of months, despite his pledge to work to reverse the tax cuts on day one of his presidency.

Biden would find a receptive audience for his plans in the House. But if Republicans continue to control the ...