A post-election analysis of what's in store for the tax code

The legislative landscape for tax policy has shifted. The election of Barack Obama combined with Democratic gains in both the House and Senate will make future tax legislation look very different over the next two years. While this doesn’t mean an immediate tax increase for most taxpayers, it does mean that the rules of the tax legislative game are expected to change.

New tax incentives for business will likely be structured to encourage the preservation and creation of domestic jobs. Any corporate tax reform is likely to be driven by the desire to increase domestic jobs rather than allow U.S. multinationals to compete better on an international stage.  Read our National Tax Office analysis  of potential tax policy in 2009 and beyond.