In 2025, discussions on tax policy are expected to arise as significant provisions of the Tax Cuts and Jobs Act are set to expire.

Natasha Sarin, a professor at Yale and former counselor to Treasury Secretary Janet Yellen, is focusing on the taxation of the top 1% of ultra-wealthy individuals. Sarin points out that a considerable amount of the wealth held by this group is invested in stocks, which are not subject to taxation until they are sold. This raises questions about the most effective ways to tax unrealized gains, a topic that is likely to gain attention in upcoming policy debates.

As the conversation around tax reform intensifies, policymakers and economists will closely monitor the implications for wealth distribution and fiscal responsibility.