Biden state of the union

US President Joe Biden will deliver the State of the Union address on Tuesday and some leaks are creeping out. One is that he will call for a surcharge on stock buybacks. This has been done modestly in other countries without much of an effect on markets or the pace of buybacks. That said, with Republicans controlling the House, I doubt it happens.

Another report said Biden will call for a minimum tax on billionaires and a proposal to ensure that most federal infrastructure projects US only US-made materials. Expect him to also spend plenty of time touting record-low US unemployment.