Democrats Capture Congress; How Might Tax Law Change?

So I hear that the Democratic party took over Congress , and I was unable to keep myself from thinking of it as good news. As one wag put it in blogland, it’s the sort of relief you might feel when maggots come to eat out the gangrenous flesh that’s poisoning you.

I didn’t plan to make much of it here, but while the Democrats may not be expected to do anything noble or good, they’re almost certain to do something different. And for those of us resisting taxes by swinging on the tax law trapeze, that means more uncertainty than usual.

How will tax law change? The Democrats are promising a wealth of new and expanded tax credits, which sounds good (to us, I mean), except that they’re also promising fiscal responsibility, which presumably means that while they’re giving out these credits with one hand, they’ll be taking back something else with the other — on this, no surprise, they’re less forthcoming.

I’ll let you know what I hear.

I’ve joined up with a new group blog project called TaxBlogger. It’s mostly tax-advice and tax-prep professionals, but the site’s organizer has welcomed me to be the resident tax resisting crank.

Thanks to the Free State Project for plugging The Picket Line in its newsletter.