A Tale of Two Tax Plans

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CLINTON’S TAX PLAN

Hillary Clinton plans to expand middle-class tax breaks, like doubling the child tax credit. But taxes on top earners would jump. Those making $1 million would pay a minimum 30% rate; income over $5 million would incur a 4% surcharge.

TRUMP’S TAX PLAN

Donald Trump’s plan cuts taxes across the board. As a percentage of income, the changes would most benefit top earners. Some proposals, like repealing head-of-household filing status, would increase taxes on larger families and single parents.*

* Trump’s campaign rejects this analysis, without offering an alternative.

HOUSEHOLD INCOME

Taxpayers would OWE this much more next year on average

Less than $25K

$25K–$48K

$48K–$83K

$83K–$143K

$143K–$208K

$100

$208K–$292K

$750

$292K–$699K

$4,690

$699K–$3.75M

$117,760

More than $3.75M

$805,250

Taxpayers would SAVE this much more next year

$110

TRUMP

$100

CLINTON

$400

$140

$1,010

$110

$2,030

$40

$3,270

$5,350

$18,490

$214,690

$1,066,460

THE FALLOUT

Nearly every year, tax revenue fails to cover national expenses. This has fueled the national debt to $14 trillion, or 76% of GDP. Looking at the tax proposals alone (and not accounting for spending plans), Trump’s plan would increase the debt in the coming decade. Clinton’s would shrink it.

$8T

7T

6T

5T

4T

3T

2T

1T

0

-1T

-2T

$5.6B

0%

Cumulative change in debt, in dollars and relative to GDP

-$8.2B

0%

$2.3T

10.5%

-$379.7B

-1.7%

$5.4T

21.1%

-$1.1T

-4.3%

$7.2T

26.2%

TRUMP

CLINTON

-$1.6 T

-5.7%

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

NOTE: THE TAX POLICY CENTER MADE MANY ASSUMPTIONS ABOUT THE UNSPECIFIED DETAILS OF TRUMP’S PLAN AFTER REQUESTS FOR INFORMATION WERE NOT ANSWERED BY HIS CAMPAIGN.