Tracking 2024 Presidential Tax Plans
Tax policy has become a significant focus of the U.S. 2024 presidential election. Our new interactive tool helps keep track of the tax policies proposed by presidential candidates during their campaigns.
Featured Articles
Kamala Harris Tax Plan Ideas: Details and Analysis
On tax policy, Harris carries forward much of President Biden’s FY 2025 budget, including higher taxes aimed at businesses and high earners. She would also further expand the child tax credit (CTC) and various other tax credits and incentives while exempting tips from income tax.
17 min read
Donald Trump Tax Plan Ideas: Details and Analysis
We estimate Trump’s proposed tariffs and partial retaliation from all trading partners would together offset more than two-thirds of the long-run economic benefit of his proposed tax cuts.
12 min readAll Related Articles
Trump Tariffs: Tracking the Economic Impact of the Trump Trade War
The tariffs amount to an average tax increase of nearly $1,200 per US household in 2025.
36 min read
Five Things To Know About Trump’s Income Tax and Tariff Idea
President Trump has repeatedly floated the idea of entirely replacing the federal income tax with new tariffs. Recently, he has said that when tariff revenues come in, he will use them to replace or substantially cut income taxes for people making under $200,000.
8 min read
How “No Tax on Tips” Could Backfire
If Republicans want to pursue this policy, they’ll need to answer some questions about what Trump’s promise means. And they’ll need to be careful that the idea doesn’t turn into a budget-buster.
Questions About Tax Cuts, Tariffs, and Reconciliation After the Election
Fiscal pressures are likely to weigh heavily on lawmakers as they craft a tax reform package. That increased pressure could result in well-designed tax reform that prioritizes economic growth, simplicity, and stability, or it could encourage budget gimmicks and economically harmful offsets. Lawmakers should avoid the latter.
8 min read
How Will Trump’s Universal and China Tariffs Impact the Economy?
President-elect Trump may want to impose tariffs to encourage investment and work, but his strategy will backfire. Tariffs will certainly create benefits for protected industries, but those benefits come at the expense of consumers and other industries throughout the economy.
5 min read
Post-Election Analysis: Trump’s Tax Plans and Economic Impact
Join hosts Kyle Hulehan and Erica York in this episode of The Deduction as they break down the US tax policy implications of Donald Trump’s next presidential term.
Revenue Estimates of Trump’s Universal Baseline Tariffs
Lawmakers will need to pursue fiscal responsibility as they address the tax law expirations, but fiscal responsibility requires finding sound ways to pay for spending priorities. Tariffs don’t make the cut.
4 min read
2024 Election Insights | Can Trump’s Tariff Plan Really Replace the Income Tax?
Can tariffs truly replace income taxes in today’s economy? In this episode, we examine the bold and controversial proposal from former President Trump to replace income taxes with tariffs. What would this dramatic shift mean for everyday Americans, particularly those with lower incomes? And would it actually work?
Harris’s America Forward Plan Should Cover Whole Economy, Not Just Favored Industries
Investment matters across the economy, and policymaking should reflect that.
4 min read
Trump’s Income Tax Math Doesn’t Add Up
Trump has floated a proposal to replace the US income tax system with a new system of tariffs, moving the United States back to the tax mix of the late 19th century. The plan, simply put, is a mathematical impossibility.
Placing Harris and Trump Tax Plans in Historical Context
Trump’s tariff hikes would rank as the the largest tax increase outside of wartime since 1940. Meanwhile, Harris’s tax plan would rank as the 6th largest tax increase outside of wartime since 1940.
5 min read
Americans Are the Losers in the Trade War. The Next Congress Should End It.
Congress has the power to stop this trade war, and for the sake of our economy, they should.
2024 Election Insights | Tax Hikes Are Coming, Regardless of Who’s in the White House
Are tax increases on the horizon in 2025, no matter who takes office? In this episode, we explore why changes to the tax code could hit your wallet, regardless of which party comes out on top.
Kamala Harris Tax Plan Ideas: Details and Analysis
On tax policy, Harris carries forward much of President Biden’s FY 2025 budget, including higher taxes aimed at businesses and high earners. She would also further expand the child tax credit (CTC) and various other tax credits and incentives while exempting tips from income tax.
17 min read
Americans Abroad Need Compliance Cost Relief
Trump’s proposal would bring the US more in line with most other developed economies, which tax only those who live and work within their borders.
4 min read
Donald Trump Tax Plan Ideas: Details and Analysis
We estimate Trump’s proposed tariffs and partial retaliation from all trading partners would together offset more than two-thirds of the long-run economic benefit of his proposed tax cuts.
12 min read
2024 Election Insights | How to Fix Trump’s and Harris’s Tax Plans
Neither presidential candidate has a perfect tax plan. But what changes could Trump and Harris make to their respective tax plans to better serve American workers and the economy? In this episode, we dissect their plans and provide practical solutions for improvement.
The Crisis Our Candidates Keep Ignoring
By 2035, Social Security as we know it will largely be insolvent. If we want to fix the issue, it’s time for our parties’ leaders to reform the program so it can be around for the long run for all Americans.
Combined Corporate Rates Would Exceed 30 Percent in Most States Under Harris’s Tax Plan
Raising the combined US corporate rate to the second highest in the OECD would encourage corporations to depart from the US, reducing economic output and worker wages across the income spectrum.
2 min read
On the Economy, Harris and Trump Are Making the Same Mistake
Both candidates’ policies would ultimately stifle the kinds of broad economic expansion they claim to seek.