A New Year Video Message From Michael
Michael Conway discusses the turmoil in DC and why there’s reason to remain hopeful for our country in the year ahead.
After Donald Trump’s weeks-long efforts to alter the outcome of the election, Congress last night voted to certify the result, finally confirming that President-elect Joe Biden will head for the White House on January 20th. We’re deeply saddened by what we witnessed at the Capitol yesterday—the culmination of a political polarization that has fractured our unity and our ability for civil discussion and disagreement. We’re hopeful that this moment serves as a turning point for the country as a whole.
Meanwhile, the election in Georgia of Democratic candidates Raphael Warnock and Jon Ossoff in a winner-take-all Senate run-off race has delivered full control of the Senate—and therefore Congress as a whole—to the Democratic Party. Now that the President-elect’s agenda has a clearer path, we’ll continue to address scenarios around particular estate, income, and capital gains tax law changes that will undoubtedly affect high income earners and business owners.
We’ll certainly have a close eye on markets, too, and we’ll have more to come in terms of our outlook for what’s in store under a new administration. So far, markets have shrugged off our political turmoil, remaining focused on the possibility of the massive stimulus a Democrat-run legislature can deliver to consumers. The yield on the benchmark 10-year U.S. Treasury note rose above 1% for the first time since March on Wednesday, and equities markets have rallied in tandem.
In the meantime, we remain hopeful for our collective future.