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Tracking 2024 Presidential Tax Plans

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Where Do the Candidates Stand on Taxes?

Tax policy has become a significant focus of the US 2024 presidential election. We’ve created this tool to keep track of the tax policies proposed by presidential candidates during their campaigns.

We will continue to update the tracker as candidates issue more detailed tax plans over the coming weeks. Explore our related analysis of their tax plans below. Share this tool: taxfoundation.org/2024-tracker.

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Suspended Campaigns

Latest Updates

  1. Donald Trump (R) announces new proposals related to SALT and overtime pay.
  2. Kamala Harris (D) adds additional tax proposals.
  3. Robert F. Kennedy Jr. (I)suspends campaign.
  4. Kamala Harris (D) announces new tax and economic proposals.
See Full Timeline

Compare By Candidate

Methodology: The candidates below have been determined based on those listed on The New York Times tracker with a RealClearPolitics poll average above 1 percent. We add policies to the tracker when they are made publicly available, either based on media reports or campaign websites.

Donald Trump (R)

Donald Trump would impose a universal baseline tariff on all US imports, impose a 60 percent tariff on all US imports from China, make the individual and estate tax cuts of the TCJA permanent (potentially without reinstating the cap on itemized deductions for state and local taxes), lower the corporate income tax rate from 21 percent to 20 percent or 15 percent (potentially for domestic production only), tax large private university endowments, consider replacing the income tax with tariffs, exempt tip income from taxation, exempt Social Security benefits from taxation, and exempt overtime pay from taxation. Trump is considering expanding the child tax credit to a $5,000 universal credit.

Business Taxes: 

  • Lower the corporate income tax rate from 21 percent to 20 percent. Read more
  • Lower the corporate income tax rate to 15 percent for companies that make their products in the US. Read more

Capital Gains and Dividend Taxes: 

  • No tax policies proposed 

Credits, Deductions, and Exemptions: 

  • VP candidate JD Vance has discussed increasing the child tax credit to $5,000. Read more
  • Reinstate an unlimited itemized deduction for state and local taxes (SALT) paid or discontinue the cap as part of TCJA extension. Read more

Estate and Wealth Taxes: 

  • Make the expiring estate tax cuts from the 2017 Tax Cuts and Jobs Act permanent. Read more

Excise Taxes: 

  • Tax large private university endowments. Read more

Individual Income Taxes: 

  • Make the expiring individual income tax cuts from the 2017 Tax Cuts and Jobs Act permanent. Read more
  • Consider replacing personal income taxes with increased tariffs. Read more
  • Reinstate an unlimited itemized deduction for state and local taxes (SALT) paid or discontinue the cap as part of TCJA extension. Read more
  • Exempt Social Security benefits from taxation. Read more
  • Exempt tip income from taxation. Read more
  • Exempt overtime pay from taxation. Read more

Payroll Taxes: 

  • Exempt Social Security benefits from taxation. Read more
  • Exempt overtime pay from taxation. Read more

Tariffs and Trade: 

  • Impose a universal baseline tariff on all US imports of 10 percent to 20 percent. Read more
  • Impose a 60 percent tariff on all US imports from China. Read more
  • Consider replacing personal income taxes with increased tariffs. Read more

Other: 

  • No tax policies proposed

See Analysis

Note: Image adapted from Shaleah Craighead, “Official White House portrait of President Donald J. Trump taken by Shealah Craighead on October 6, 2017 in Washington, D.C.,” photograph, WhiteHouse.gov, 2017, https://www.whitehouse.gov/people/donald-j-trump/.

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Suspended Campaigns

Featured Experts

Have a question about any of the presidential tax plans above? Contact us to connect with a federal tax policy expert or click on the experts below to request them as a speaker at your upcoming event.

The Growth and Opportunity Tax Plan

Drawing on the Estonian experience and building on our prior reform ideas, our experts present a plan for reforming the U.S. tax code that focuses on simplicity.

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Timeline of Activity

  1. Donald Trump (R) announces new proposals related to SALT and overtime pay.
  2. Kamala Harris (D) adds additional tax proposals.
  3. Robert F. Kennedy Jr. (I) suspends campaign.
  4. Kamala Harris (D) announces new tax and economic proposals.
  5. Marianne Williamson (D) suspends campaign.
  6. Joe Biden (D) suspends re-election campaign. Kamala Harris (D) launches campaign.
  7. Joe Biden (D) proposes expanding current Section 232 tariffs. Robert F. Kennedy Jr. (I) releases several new tax proposals.
  8. Donald Trump (R) considers replacing the income tax with tariffs.
  9. Donald Trump (R) proposes exempting tips from income taxes.
  10. Joe Biden (D) proposes maintaining the current Section 301 tariffs while raising tariffs on an additional $18 billion worth of steel, aluminum, and green energy and medical goods.
  11. Joe Biden (D) proposes tripling current tariffs on imports of steel and aluminum from China.
  12. Dean Phillips (D) suspends campaign.
  13. Nikki Haley (R) suspends campaign.
  14. Marianne Williamson (D) unsuspends campaign.
  15. Donald Trump (R) adds tariff proposal. Marianne Williamson (D) suspends campaign.
  16. Ron DeSantis (R) suspends campaign. Nikki Haley (R) adds child tax credit proposal.
  17. Vivek Ramaswamy (R) suspends campaign.
  18. Chris Christie (R) suspends campaign.
  19. Donald Trump (R) adds proposal related to 2017 Tax Cuts and Jobs Act (TCJA).
  20. Ron DeSantis (R) adds IRS and flat tax proposal.
  21. Tim Scott (R) suspends campaign. Dean Phillips (D) is added, given methodology.
  22. Tracker Launched
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