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The proposed legislation has garnered bipartisan support, indicating a growing consensus on the need for stricter regulations regarding elected officials' financial activities. While Biden's support may not directly influence the passing of the bill, it showcases an ongoing concern over transparency and accountability in political finance as he approaches the end of his term.

Challenges to Renewing Trump Tax Cuts

The conversation also turned to the upcoming renewal of the Trump tax cuts, coinciding with a Republican-controlled Congress and the potential return of Donald Trump to the presidency. Although the Republicans were successful in passing the Tax Cuts and Jobs Act (TCJA) in 2017, the current political landscape presents new challenges due to a significantly reduced majority.