Happy Thanksgiving to everyone. Here’s a quick update on the tax outlook.

Congress returned last week, but didn’t make much progress. The big news was the cancellation of the bipartisan leadership meeting at the White House on the 18^th; that meeting is now scheduled for November 30^th. Politico has a really good write-up on what happened, but what was the impact on the tax debate?

In our view, mostly timing. Nobody expected the get-together to result in a deal, but we did expect it to jump start discussions, with the possibility of some sort of agreement worked out by the time …

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