Source: Bloomberg
Author: Erik Wasson, Enda Curran
Donald Trump and partner James Wans in the campaign may spend a total of up to US $ 10.1 trillion (S $ 13.69 trillion) proposed in the campaign, which will exceed that it will exceedThe budget of the domestic federal agencies.
Even if the U.S. Congress cancel all non -national defense free -scale free control expenses -the total amount is expected to reach US $ 9.8 trillion in the next 10 years, and it will still not be able to offset the large -scale tax reduction pre -sale that Trump and Wans have sold in recent weeksEstimated costs.
As the Trump campaign team has not announced its detailed policy plan for its tax commitment, the calculation of the price is based on rough estimates of tax and budget experts.
The Trump campaign team stated in a statement that the former president will reduce waste of expenditure and increase energy output to bear tax reduction and reduce US debt levels.The campaign team does not provide more details.
Democratic candidate Kamara Harris also proposed some large -scale tax cuts, such as exempting taxes on tip and expanding children's tax credits.However, in contrast, her plan has a much smaller impact on the state's finance.She urged to offset tax losses by improving taxes on the company and the rich -an estimated amount of a think tank was US $ 2 trillion.
Trump's campaign team's tax reduction commitment is huge, and it is extremely unlikely to be passed even in the Congress controlled by Trump.Tax proposals include extending Trump's 2017 tax reduction policy, significant expansion of children's tax credit, and cancellation of taxes on tip and social security.
Kyle Pomerleau, a senior researcher at the right of the US Enterprise Institute, said that Congress will not be funded by a $ 10 trillion deficit.
Republican Party has long claimed that tax cuts can promote economic growth.But it is unclear to how much Trump's plan will stimulate new economic activities.
