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The administration’s new tax proposals cover a lot of ground, but it’s up to Congress to turn the proposals into actual legislation. There is zero guarantee that they will make it into a bill at all, and if they do, the proposals are likely to look a lot different. Hayden Adams, director of tax and financial planning at the Schwab Center for Financial Research, joins Mike to look at what’s driving the proposals and what elements are up for debate—and to address investors’ concerns about their potential impact. Mike also discusses the prospects for a new bipartisan retirement savings bill on Capitol Hill, the SEC’s announcement that it will delay a key decision on cryptocurrency, and the long road ahead on drawing new Congressional districts before the 2022 election. WashingtonWise Investor is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/WashingtonWise. If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts.  Important Disclosures: The policy analysis provided by the Charles Schwab a Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.  All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  Investing involves risk, including loss of principal.  Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager. Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument. 0521-1Y69