Marc Gerson, former tax majority counsel to the House of Representatives Committee on Ways and Means, discussed the significant implications for the tax landscape, as the 2024 elections approach. Gerson emphasized that "the fate of the 2017 tax cuts is at stake." The upcoming lame duck session will be crucial for extending temporary provisions of the Tax Cuts and Jobs Act (TCJA), with some set to expire soon. Gerson notes that while both parties are wary of raising taxes on Americans, the debate centers on the duration and financing of any tax extensions. Gerson concludes, "So much depends on the election," indicating that the outcome will dictate the legislative path forward.