It looks as though technology and pharmaceutical companies could be hit the hardest from President Biden's proposed tax hikes.

Regardless, even after the changes are made, regulators are going to have their hands full in trying to minimize loopholes to get around the new changes. 

Most assets at companies like pharmaceutical companies or technology companies are intangible assets like IP and patents. This makes it easier for these companies to structure their operations in tax-friendly ways because they don't have to "move" anything to move their headquarters and, ergo, their tax treatments.