The Biden Tax Plan and Opportunities in Municipals

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In this session, we explore how President Biden’s proposed tax plan would impact businesses and individuals, and how municipal bonds can help mitigate overall portfolio risk.

In this webinar you will learn:

• Biden's proposal would increase the corporate tax rate from 21% to 28%, and the top individual federal income tax rate from 37% to 39.6%.
• It would also increase the capital gains tax rate from 20% to 39.6% for taxpayers with an income of more than $1 million.
• Despite concerns regarding COVID-19 and the economy, the municipal bond market has experienced positive inflows since April 2020.
• Diversification can potentially increase opportunities for growth and help mitigate overall portfolio risk. Municipal bonds have historically had very low correlation to other asset classes and may be effective portfolio diversifiers.

Speakers

Andy Blocker
Head of US Government Affairs
Invesco

Andy Blocker is Head of US Government Affairs at Invesco. In this role, he drives Invesco’s legislative and regulatory advocacy initiatives with policymakers, engages with clients and opinion leaders on public policy developments, and seeks to maximize the company’s political footprint. Mr. Blocker joined Invesco in 2018. Prior to joining the firm, he served as executive vice president of public policy and advocacy for the Securities Industry and Financial Markets Association, where he led a team engaging lawmakers and regulators on international, federal, and state issues impacting the financial services industry.

Before that, Mr. Blocker spent five years as managing director for UBS’ US Office of Public Policy, focusing on lobbying, client service, and education for individual and institutional clients. He also served as vice president of government relations for the New York Stock Exchange, as managing director of government and international affairs for American Airlines, and for the White House as special assistant to the president for legislative affairs. Mr. Blocker began his career as a financial analyst for Bell Atlantic Corporation. He has appeared on CNBC, CNBC Asia, Bloomberg, and Yahoo! Finance. Mr. Blocker earned a BA degree in economics from Harvard University and an MBA in international business from Georgetown University.

Stephanie Larosiliere
Head of Municipal Business Strategies and Development
Invesco

Stephanie Larosiliere is the Head of Municipal Business Strategies and Development for the Invesco Municipal Bond team. Ms. Larosiliere works with the fund management team, acting as its representative to clients and other intermediaries. Her responsibilities include working with sales staff and clients to provide insight into the municipal fixed income market and the investment strategies utilized by the team. She is also responsible for ongoing product development and marketing for the municipal bond products.

Ms. Larosiliere joined Invesco in 2011 as a senior product manager supporting the municipal and convertible businesses. Prior to joining Invesco, Ms. Larosiliere served as a vice president of the Goldman Sachs Asset Management fixed income product management team, where she was responsible for portfolio analysis, product development, client retention, and marketing. Before joining Goldman Sachs in 2008, she worked as an institutional product management associate for Brown Brothers Harriman. She began her career in the industry in 2003 as a risk management analyst with JPMorgan Chase, where she was responsible for performing daily value at risk analysis and monthly stress risk tests on the bank’s credit portfolio.

Ms. Larosiliere earned a BBA degree in finance and investments from Baruch College — The City University of New York (CUNY).

Tim Spitz
Product Director
Invesco

Timothy (Tim) Spitz is a Product Director for the Business Strategy and Development team at Invesco. In this role, he is responsible for communicating and promoting the municipal bond team’s investment objectives and strategies, cultivating relationships with distribution and clients, and providing insights into the market, product performance, and competitive analysis. Mr. Spitz joined Invesco when the firm combined with OppenheimerFunds in 2019. He joined OppenheimerFunds in 2008 as a vice president and product director for the municipal division. Prior to that, Mr. Spitz worked as a financial advisor at A.G. Edwards, and as an underwriting supervisor at JPMorgan Chase. Mr. Spitz earned a BA degree in business administration from Furman University. He holds the Series 7, 24, and 63 registrations.

Robert Huebscher
CEO and Founder
Advisor Perspectives

Robert Huebscher is the founder and CEO of Advisor Perspectives and serves as its editor-in-chief. He is a frequent speaker at industry conferences and has written extensively on topics including investment management, portfolio construction, financial planning and global economics.