An Unconventional Plan for Fixing the Federal Budget
Published On Feb 1, 2025, 8:00 AM
Marc Rowan, CEO of Apollo Global Management, proposes a new fiscal policy model designed to address the U.S. federal budget and debt crisis. His plan suggests a combination of tax cuts and the removal of tax exemptions, an increase in capital gains tax, and the creation of a carbon tax, as well as significant reforms in immigration and healthcare. This model, which he funded at the University of Pennsylvania, is projected to reduce federal debt by 38% by 2054, increase GDP by 21%, and raise wages by 7%. As the federal debt reaches record levels, this proposal is generating interest and could influence upcoming budget discussions.
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As Rowan is associated with significant economic policy discussions and maintains influence within the political sphere, the implications of his proposals could lead to increased market volatility and shifts in sectors related to taxation, carbon-related industries, and healthcare.
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