Commentary

Political Effects of the Coronavirus

If the virus in fact becomes a national crisis, it might have a bearing on how a segment of voters decides whether to support the President in any of three ways...

Commentary

Of Tariffs and Treaties

For almost 1-1/2 years, President Trump’s tariff initiative has confused and roiled the markets. The following discussion examines why markets have been volatile and makes some predictions about future market reactions.

Commentary

Updated Tax Guidance for Small Business Owners

Our last tax update, Tax Reform Aftermath: New Guidance for Investors, discussed in part the steps small business owners might take to claim and maximize the 20% deduction afforded by the Tax Cuts and Jobs Act. Since we wrote that paper, the IRS has clarified the application of the provisions that govern these strategies.

Commentary

One Deadline Down, but Another Remains

Since the beginning of 2018, the government funding imbroglio has consumed Washington. With a second government shutdown looming, the two parties finally compromised on legislation funding the government through September, an eon away by congressional standards.

Commentary

2019 Washington Outlook

The new year begins as the prior year ended – with the federal government shut down and no compromise in sight. Of course, the government will reopen at some point, likely when the average American gets tired of dealing with the lack of government services.

Commentary

The 2018 Midterm Elections – What Comes Next

The 2018 Midterms are over, and the messages are mixed. As we predicted, the Republicans held the Senate, while Democrats took the House by a lesser margin than some others expected.

Commentary

Preliminary Thoughts on the Midterm Elections

The different and constantly changing polls make it difficult at this point to reach a definitive conclusion regarding the midterm election results. Moreover, future events – particularly those occurring in late October and November – almost certainly will have an outsized influence on the outcome.

Commentary

SEC Broker Conduct Rules

Last week, the SEC issued proposed rules governing broker-dealer and investment advisor conduct. The rules serve as a counterpoint to the fiduciary rules issued by the Department of Labor.

Commentary

Trump and the Markets

In our first written update of the Trump presidency, in January 2017, we sounded a theme about the interaction of President Trump’s policies and the markets that we continue to espouse through our presentations today.

Commentary

Tax Cuts & Jobs Act Update

In our white paper, Tax Reform Near the Finish Line: What’s in the Bill, we summarize the portions of the Tax Cuts & Jobs bill of particular interest to investors, as well as the likely winners and losers under that legislation.

Commentary

Health Care Reform – Right, Left, and Center

Three new health care reform initiatives - from the political right, left, and center - are developing in the Senate. Earlier this week I joined CNBC's Nightly Business Report to discuss the proposal up first for consideration: the Graham-Cassidy bill, which would turn the ACA into a system of state grants.

Commentary

Market Reaction to a Government Shutdown

In our update last month, we noted that the federal government could shut down on April 29 for lack of Congressional funding, a development that might have market consequences.

Commentary

Will Trump Budget Lead to a Government Shutdown?

Earlier this week, President Trump issued a proposed government budget for FY2018 calling for the largest reduction in domestic program spending since the aftermath of World War II.

Commentary

ACA Replacement and Market Reaction

Earlier this week, the Republicans issued their plan to replace the Affordable Care Act (Obamacare). As the Republican plan became public, I joined the CNBC Nightly Business Report to discuss the plan and how the markets are likely to react.

Commentary

Preparing for Lower Tax

President-elect Trump and the Republican-led Congress have said that one of their top priorities is the passage of tax reform in 2017.