−Removed: ITEM 1A RISK FACTORS
The disclosure below supplements the risk factors previously disclosed under “ITEM 1A.
3 unchanged sentences
Changes in the federal, state, or local tax laws may negatively impact our financial performance.
−Removed: On March 31, 2021, President Biden unveiled his infrastructure plan, which includes a proposal to increase the federal corporate income tax rate from 21% to 28% as part of a package of tax reforms to help fund the spending proposals in the plan.
−Removed: The Biden plan is in the early stages of the legislative process.
−Removed: If adopted as proposed, the increase in the federal corporate income tax rate would adversely affect our results of operations in future periods.
+Added: On October 28, 2021, President Biden unveiled his revised infrastructure plan, which removed a proposal to implement an increase in the federal corporate income tax rate, but would implement a stock buyback tax as part of a package of tax reforms to help fund the spending proposals in the plan.
+Added: The revised Biden plan is in the early stages of the legislative process.
+Added: If adopted as proposed, the stock buyback tax could adversely affect Peoples' determination to repurchase common shares in future periods.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.