On May 28, 2021 the Treasury Department released its General Explanations of Tax and Revenue Proposals (known as the “Green Book”) as part of President Biden’s fiscal year 2022 Budget. As anticipated, the Budget proposes numerous ambitious and aspirational tax reforms that generally echo President Biden’s 2020 campaign platform, including targeting high-income individuals with tax hikes; extending certain tax benefits to low and middle-income taxpayers; promoting housing, infrastructure, and clean energy; and reforming the corporate and international tax systems.

Millennial investors are said to be more than twice as likely to be interested in environmental, social, and governance (ESG) and Impact within their investment portfolios than older generations.  The next-generation brings a broader perspective to their investments, one which extends beyond a narrow view that focuses solely on the shareholder.  Millennials are increasingly aware of how important it is for companies to treat a broader spectrum of stakeholders in an equitable manner, including such stakeholders as a company’s customers, suppliers, employees, regulators, its community, and the environment.

Markets largely shrug off any worries of rising inflation while Bitcoin declines by over 40% as environmental concerns and government scrutiny trigger a steep correction.