Cross-border Tax Talks

August 14, 2024

US Election Watch: Tax Implications

Doug McHoney (PwC’s International Tax Services Global Leader) is joined by Janice Mays (Managing Director in PwC’s Tax Policy Services) who boasts  a 40 year career on the Hill including 22 years as the Democratic chief counsel and staff director for the House Ways and Means Committee, to discuss the upcoming US election’s impact on tax policy.  Doug and Janice dive into the practice and procedures behind US tax policy, the upcoming US presidential election, and the key races to watch in the US Senate and House of Representatives. They also cover various election result scenarios, the key priorities for both Republicans and Democrats in a 2025 tax bill, and a potential US reaction to Pillar Two.

Timestamps:

  • 1:40 - How has Janice’s over 40 years of experience prepared her to be a Policy on Demand ‘internet celebrity’?
  • 3:55 - How is tax policy set in the United States?
  • 6:30 - How has bipartisanship in tax policy changed through the years?
  • 8:00 - How does a tax bill become law?
  • 13:45 - Why does the upcoming US election matter to US tax policy?
  • 16:00 - Where do things stand in the US presidential election?
  • 20:30 - What should we expect to happen in the US House of Representatives?
  • 22:40 - What is the outlook for the US Senate makeup?
  • 25:40 - What happens to tax policy if we have a divided government?
  • 29:00 - What happens to tax policy if Republicans gain control?
  • 32:40 - What happens to tax policy if Democrats gain control?
  • 34:30 - What do we expect next regarding the US and Pillar Two?

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Speakers

Doug McHoney

International Tax Services Global Leader, PwC US

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Janice Mays

Managing Director, Tax Policy Services, PwC US

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Doug McHoney

Doug McHoney

International Tax Services Global Leader, PwC US

Geoff Jacobi

Geoff Jacobi

ITS, Knowledge Management Managing Director, PwC US

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