The 2024 election is right around the corner with a probable rematch between President Joe Biden and Former President Donald Trump, who was most recently removed from the ballot in Colorado. While there are many issues that will be mentioned during election cycle, some are more paramount for investors than others. Yahoo Finance Senior Columnist Rick Newman joins Yahoo Finance as part of the weekly series 2024 Investor Guide to break down the pressing issues involved with the 2024 election for investors.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Video Transcript

SEANA SMITH: We want to stick with the 2024 presidential election. The race looking tight early. Polls showing that we could see though a rematch between President Joe Biden and former President Donald Trump.

Now, here with a look at what this election means for investors in the three biggest issues to keep in mind, we want to bring in Rick Newman. He is joining us now as part of our Yahoo Finance's 2024 investor guide. Hey, there, Rick.

So lots to get into here three big issues that investors need to keep in mind. Your first one is in regards to the Trump tax cuts. Talk to us just about the significance of this and the impact that it could have on investors.

RICK NEWMAN: So there are two components to the Trump tax cuts from 2017, corporate tax cuts, which are permanent, but then individual tax cuts which are not permanent. They expire at the end of 2025. Now, that's two years away.

That might seem like a long time from now. But whoever is the next president is going to be the one who is signing whatever law Congress passes to figure out what to do about that. And I think it will be quite a stark difference between whether it's a Republican or a Democrat.

Let's say Joe Biden wins re-election, I think that-- and he has a Democratic Congress, I think there's a good chance that tax cuts for everybody making more than $400,000 are going to go back to where they were before 2017. So the top rate as one example got cut from 39.6% to 37%, I think that would go back up.

But if a Republican Donald Trump or another president-- another Republican, then maybe a larger chance that those tax cuts remain in place. I mean, there are a lot of different ways it could go, but that is a big one coming up. And there's also the chance that if we have a Democrat, corporate tax rates could go back up.

BRAD SMITH: Rick, one other area that you're looking at is federal debt. You say federal debt is a key issue for investors, why is that?