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Richest Americans Win With a Divided U.S. Government

The pressure is easing on wealthy Americans to make quick moves before the end of the year.

Pelosi Awaits Mnuchin Virus Offer Today As Hope For Vote Fades
Photographer: Stefani Reynolds/Bloomberg

Wealthy Americans watching election results are breathing a sigh of relief, for now.

Advisers to the rich had been planning a variety of end-of-the-year strategies to protect their clients from big tax hikes in case former Vice President Joe Biden was elected president alongside wide Democratic majorities in both chambers of Congress — a “blue wave” that doesn’t seem to be materializing.