![]() ![]() He never even quite says he’d extend the 2017 TCJA, perhaps his biggest legislative achievement. Even his campaign website is more of a retrospective look at his first term than a policy agenda for a second. And she is silent on extending the TCJA.īusinessman Vivek Ramaswamy has a plan but it is internally inconsistent, veering wildly between vowing to never raise taxes, promising to boost the estate tax, and then denying he ever made such a pledge.įormer New Jersey governor Chris Christie has said little about his tax or budget policies, other than to promise to work with Democrats to reduce the deficit.Īnd Donald Trump? These days, his stump speeches focus on how he’d punish political opponents in a second term. For instance, she promises to cut tax rates for working families but never says for whom or by how much. Former South Carolina Governor Nikki Haley has been somewhat more forthcoming, but her agenda still includes huge gaps. While Ron DeSantis had an aggressive tax cutting agenda as governor of Florida, he has been almost silent on what he’d do on fiscal policy as president. You can’t say that about his former GOP opponents. And while Scott left out some key details (on international tax, for example), you knew where he stood on revenue issues. Nearly every bullet point was accompanied by a reference to an actual bill in Congress. But that idea is unsupported by evidence and has been rejected by nearly all economists.ĭespite those shortcomings, his tax plan was specific enough that independent analysts (and voters) could make informed judgments about its virtues and flaws. Scott claimed he’d fill the fiscal gap because cutting taxes would increase revenue and reduce the deficit. He never would say what he’d do about the looming insolvencies of Social Security and Medicare Part A. CRFB estimated it would add more than $3 trillion to the national debt over a decade, even with his proposed (and unrealistic) across-the-board cuts in non-defense, non-Social Security, non-Medicare spending. Make no mistake, while Scott was quite specific about taxes, his overall fiscal agenda left plenty of holes to fill.įor example, he insisted his plan would reduce the federal deficit. ![]() Expand his signature Opportunity Zones, which provided extra capital gains tax breaks to investments in designated communities.Allow parents to claim the child tax credit (CTC) for unborn babies and make the adoption tax credit refundable.Permanently allow businesses to immediately write off the costs of equipment and research, and more rapidly depreciate buildings. ![]()
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