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Retroactive Tax Hikes Aren’t the ‘First Choice,’ Biden Aide Says

  • Tax adviser says taxpayers should be warned about higher rates
  • High-income filers are already preparing for tax increases
Mark Mazur, the Treasury Department’s deputy assistant secretary for tax policy.

Mark Mazur, the Treasury Department’s deputy assistant secretary for tax policy.

Photographer: Andrew Harrer/Bloomberg

The Biden administration isn’t actively considering retroactive tax increases, which fail to give individuals and businesses time to respond to the higher rates, a Treasury Department official said.

“You want to have a tax system where people -- taxpayers -- can react to the increases in the tax system so that they can change their behavior,” Mark Mazur, the Treasury Department’s deputy assistant secretary for tax policy, said Tuesday at an American Bar Association virtual event. “When you do retroactive tax increases that’s not possible. That tends to be not the first choice.”