Shifts in government spending and tax laws are important considerations for financial planning. The candidates in the upcoming presidential election offer plans that would take tax reform in much different directions, and propose spending strategies that will affect the national debt.
- Donald Trump’s plan would reduce the number of tax brackets and would lower the income tax rate for some taxpayers.
- Hillary Clinton’s plan would retain the current tax bracket system and would raise income taxes for some taxpayers.
Expand the infographic below to learn more about the candidates’ proposals and how they could affect tax rates, individual incomes, and the national debt.