On February 1, 2010, the White House released its proposed $3.8 trillion budget—which is great except for the fact that it results in a record $1.6 trillion deficit. There are plans to reduce this spreadcongress is being generous by reducing its discretionary spending from $1.4 trillion to $1.38 trillion (about as much of a cut back as saving money on a new car by merely opting for one less cup holder). Additionally, the current administration plans on allowing the Bush tax cuts to expire for households earning more than $250,000, and move that will increase the top two tax brackets from 33 percent and 35 percent to 365 and 39.6 percent, respectively. It will also increase capital gains rates from 15 to 20 percent.
COVID-19 / SEC FILING UPDATE:
Moneta Group Investment Advisers, LLC intends to rely on the Order promulgated by the Securities and Exchange Commission under Release No. IA-5463 and updated by Release No. IA-5469 with regards to its annual filing of Form ADV. In addition, Moneta intends to rely on the Order with regards to the delivery of our Summary Brochure and ADV Part 2B Brochures as well. The SEC’s Order grants Registered Investment Advisor firms like Moneta temporary relief from reporting requirements that would otherwise be due amidst the business and everyday disruptions caused by the COVID-19 pandemic. Moneta takes its obligations and fiduciary responsibilities seriously, and intends to effectuate its filing and delivery as soon as is feasible given the circumstances.