Clinton vs. Trump on Taxes
Jim Tankersley breaks down “Who would win and lose under Donald Trump and Hillary Clinton’s tax plans.”
Hillary Clinton’s tax plan:
Working families, particularly low-income parents with young children. Clinton would double the existing child tax credit for working-class families from a maximum of $1,000 a year to $2,000 a year, per child, for children 4 and under. She would expand the credit to an estimated 14 million more families by changing income thresholds for benefiting from it. She would also create new tax credits for out-of-pocket health-care expenses and for caring for a parent or grandparent. Clinton has suggested she could offer new tax credits to defray child care expenses as part of her plan to limit any family’s spending on child care to no more than 10 percent of its income, but she has not specified how that would work.
Donald Trump’s tax plan:
Trump’s plan eliminates taxpayers’ ability to claim deductions for each of their children — and a provision called “head of household” status that lowers tax bills for many single parents. New York University professor and former Obama administration economic adviser Lily Batchelder estimates that those losses would more than outweigh the benefits of Trump’s plan for millions of families and single parents.