2. PAUL YOUNG - BIO
โข CPA, CGA
โข Academia (PF1, FA4, FN2, MU1. and MS2)
โข SME โ Risk Management
โข SME โ Close, Consolidate and Reporting
โข SME โ Public Policy
โข SME โ Fraud Detection and Prevention
โข SME โ Emerging Technology
โข SME โ Business Process Change
โข SME โ Financial Solutions
โข SME โ Macro/Micro Indicators
โข SME โ Supply Chain Management
Paul_Young_Cga@hotmail.com
3. AGENDA
โข United States Federal Government โ Fiscal GAP
โข Taxation / USA
โข Program Spending / USA
โข Trump vs Biden
โข First 100 days of Biden
โข Border / USA
โข Tax Policy Change
โข Public Safety
โข Environment
โข State and Local Government
โข Audits and Oversight
โข Emergency Financial Aid for College Students under the CARES Act
โข Other Reviews
8. FIRST 100 DAYS OF
BIDEN
1. Project Warp Speed / Trump https://www.thechronicle.com.au/news/world/joe-
biden-picked-up-great-tailwinds-from-trumps-project-warp-
speed/video/32e0d9044b92b6320b5fd5d82cd5e6df
2. Still a border crisis - https://www.cbp.gov/newsroom/stats/southwest-land-border-
encounters or https://www.cbp.gov/newsroom/stats/cbp-enforcement-
statistics/criminal-noncitizen-statistics
3. Crime is not abating - https://www.cnn.com/2021/04/03/us/us-crime-rate-rise-
2020/index.html or mass shootings up -
https://www.statista.com/statistics/811487/number-of-mass-shootings-in-the-us/
4. USA emissions dropped in 2019 under Trump - https://thehill.com/policy/energy-
environment/548265-us-emissions-dropped-17-percent-in-2019-epa-says
5. Wage gap / Biden climate plan - https://www.politico.com/news/2021/04/06/biden-
climate-jobs-wage-gap-479130
6. Oil and South Dakota - https://www.keloland.com/news/capitol-news-bureau/noem-
wheres-south-dakota-coverage-of-damage-from-biden-pulling-keystone-xl-permit/
7. Foreign Aid boosts without oversight - https://www.devex.com/news/devex-
newswire-biden-s-6-8b-foreign-aid-budget-boost-99628
8. Defense spending - https://www.defensenews.com/breaking-
news/2021/04/09/biden-requests-715b-for-pentagon-hinting-at-administrations-
future-priorities/
9. Minimum corporate tax - https://fortune.com/2021/04/08/yellen-biden-corporate-
minimum-tax-plan/
10. Carbon price - https://www.ft.com/content/4ecd8ace-8c5f-40ad-b2fa-c3bf27c2c621
1. Here is the scorecard - https://www.slideshare.net/paulyoungcga/united-
states-economic-and-fiscal-scorecard-february-2021-and-march-2021
10. TAX POLICY CHANGE
Blog - Biden plan would increase taxes on multinationals by $1.2 trillion over 10 years: study.
Great work by cfo.com to publish an amazing article on the impact of corporate tax changes by Joe Biden on the tax position for
multinationals:
Here is the link to the blog - https://www.linkedin.com/pulse/blog-biden-plan-would-increase-taxes-multinationals-paul-
young/?published=t
๏ท The Biden administrationโs โMade in Americaโ tax plan would increase taxes on U.S. multinational corporations in 2022 by 81%,
to $104 billion, and by 72% over the next decade, to $1.2 trillion, according to a Tax Foundation study.
๏ท Tax rates on domestic income would rise more than on foreign income, resulting in a net increase in profit shifting by U.S.
companies outside the country and a reduction in their U.S. tax liabilities by $75.5 billion over 10 years, the Tax Foundation
said.
๏ท The Biden plan would impose a 9.4% average surtax on foreign activities by U.S. multinational companies above the taxes that
they pay abroad, putting them at a competitive disadvantage and โperhaps forcing U.S. firms to sell their foreign subsidiaries,โ
according to the analysis.
Source - https://www.cfodive.com/news/biden-plan-would-increase-taxes-multinationals-1-trillion-10-
years/599224/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202021-04-
29%20CFO%20Dive%20%5Bissue:33927%5D&utm_term=CFO%20Dive
13. STATE AND LOCAL GOVERNMENT
โข State and local government funding gap - https://us.beyondbullsandbears.com/2021/04/08/state-and-local-
governments-get-shot-of-stimulus/
โข United states financial position worsen in 2020 - https://www.globenewswire.com/news-
release/2021/04/15/2210552/0/en/United-States-financial-condition-worsened-by-nearly-10-trillion-in-2020.html
โข Spending by state ranking - https://www.usgovernmentspending.com/state_spend_rank
โข States most exposed to Coronavirus - https://wallethub.com/edu/state-economies-most-exposed-to-
coronavirus/72631
โข There needs to be mandatory crisis and emergency management reporting. Crisis and emergency management reports
should be subjected to annual audits (internal and external) - https://ibm.box.com/s/rsp6p9tez8uru9fo0wu5d13bxt7rtrr0
14. OVERSIGHT AND ACCOUNTABILITY
Emergency Financial Aid for College Students under the CARES Act
Many colleges and other institutions of higher education across the country closed their physical campuses in
response to COVID-19. The Coronavirus Aid, Relief, and Economic Security (CARES) Act created a relief fund, a
portion of which was slated for emergency financial assistance to students.
We reviewed the fund and found:
โข As of Nov. 2020, the Department of Education had awarded $6.19 billion to 4,778 schools that applied for
emergency student aid funds
โข By fall 2020, schools had distributed about 85% of these funds to students
โข The average amount per student was about $830
โข The majority of student aid funds went to public schools
Source - https://www.gao.gov/products/gao-21-312r
15. SUMMARY
โข All levels of government and the private sector need to look at the best way to protect the environment through
growing the economy in a sustainable way - https://www.slideshare.net/paulyoungcga/united-states-economic-
and-fiscal-scorecard-february-2021-and-march-2021
โข More value for money and performance audits by all levels of government to ensure programs are both
effective and are delivered with value for money โ https://www.slideshare.net/paulyoungcga/the-importance-
of-value-for-money-and-perfomance-based-audits
โข All levels of government need to continue to look at ways to move their operational model to a digital model -
http://www.businessofgovernment.org/blog/new-directions-government-digital-age
16. TRAINING AND DEVELOPMENT
โข If you like to learn more about
trade and/or other subjects as
part of your professional
learning, and development
then feel free to review my
material on
https://www.udemy.com/
(search Paul Young CPA CGA)
โข These subjects address how
to fixed issues with housing
and/or systemic issues related
to economy including
government policies