Breaking Down Tax for the S&P 100.

• Position: BY THE NUMBERS

President Joe Bidens proposed tax changes include an increase to the corporate tax rate, which Congress under former President Donald Trump lowered to twenty-one percent with the passage of the Tax Cuts and Jobs Act of 2017. Any changes Biden hopes to make likely will face a long, arduous battle through Congress, so the Trump administration's corporate-friendly rates could be here to stay for quite some time. Add to that the pressure to keep businesses afloat amid the COVID-19 pandemic--even with pandemic-triggered tax relief, decreasing unemployment, and vaccine distribution--and the prospect for a higher corporate rate gets pushed into a more distant future.

In response to the...