U.S. President Joe Biden delivered his State of the Union Address on 7 February 2023. Although taxation was not a major focus of the speech, a few tax proposals were mentioned. The main tax proposal potentially impacting companies is to quadruple the excise tax on corporate stock buybacks to encourage long-term investments instead. Currently, the excise tax on stock buybacks is 1% as introduced by the Inflation Reduction Act. For individuals, the main tax proposal is for a billionaire minimu…