Our America: On Taxes and Spending (Candidate Positions)

You are impacted every paycheck and every day by taxes (federal income, business taxes, gas tax, etc.). There are taxes withheld from your paycheck and then in April you file annual taxes. The current tax code was put in place under President Donald Trump in 2017 called the Tax Cuts and Jobs Act (TCJA) with some modifications during the Biden-Harris presidency. Most of the provisions of the TCJA are set to expire at the end of 2025. Donald Trump's position is to extend this tax code and make some adjustments, Kamala Harris has not indicated if she will extend the tax code (which implies reverting to previous tax laws) and has made some items she would include in her tax plan.

This captures each candidates positions based on what they have said and what is included in their position statements on each of their respective sites. No attempt is made to represent what others have said about their plans or what they say about each others plans.

Generally, Donald Trump favors reducing taxes overall and Kamala Harris favors raising taxes with some targeted areas of tax reductions in her plan.

Neither candidate has expressed a plan to reduce spending or the national debt. To be fair, Trump has stated that the national debt is a concern and he will reduce regulations.

It is important to note that the president often proposes the budget and tax provisions but congress actually has the responsibility to approve spending and write the laws.

Summary of Proposed Income Tax Changes:

Summary of Proposed Business Tax Changes:

This is presented to reflect the candidates positions and proposed policies and not render a personal opinion on any of their policies. You, the American people, can look at the facts and think for yourself.

Look for an upcoming post that will provide an alternate way to look at taxes and spending (which also will not endorse or condemn either candidate). However, the purpose of the "Candidate Positions" posts are to provide facts and let you interpret and decide which policies you like best for Our America.

To join the next movement communication list send an email to HopeForOurAmerica@gmail.com.