Trump plan could cut taxes by $1.7 trillion, Biden’s could offer $4.3 trillion increase, report
Wednesday, October 7, 2020 | Tag Cloud Tags: deficit, Democrat, News, tax, Trump, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs! | Printer Friendly
(Worthy News) – The nonpartisan Committee for a Responsible Federal Budget released a report Wednesday estimating that Democratic presidential candidate Joe Biden’s proposed policy measures would raise taxes by about $4.3 trillion over the next decade.
President Trump’s plan would lower tax revenue by about $1.7 trillion.
The report notes that the numbers presented are widely variable primarily due to the vague nature of each candidates’ economic plans. At the top of the scale, Biden’s plan could increase the federal deficit by as much as $8.3 trillion over the next 10 years, while the upper end of Trump’s plan could boost that number to $6.5 trillion. [ Source: Just the News (Read More…) ]
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.