An article published by Law 360 quotes Nelson Mullins tax attorney C. Wells Hall commenting on the likelihood that the Biden-Harris administration will raise capital gains and corporate tax rates. More pressing priorities will require Biden’s attention first, Hall believes.

Biden will likely be forced to address the novel coronavirus pandemic and the economic fallout it has wrought before he can pursue his proposals to increase the capital gains and corporate tax rates, Hall said during a webinar hosted by New York University's School of Professional Studies.

"The Biden-Harris administration has a lot of stuff on their plate," the Charlotte partner said. "They've got to deal with the pandemic. They've got to deal with the stimulus. Why would they feel that raising the tax rates is the right thing to do at this time?"