US Politics

Trump vs Biden Tax Plans

Both presidential candidates plan to make changes to the tax code, but largely in opposite directions. While President Donald Trump plans further tax reductions, his opponent, former Vice President Joe Biden, plans to raise taxes on the rich and businesses. Both candidates are also proposing a number of tax incentives for particular behaviors. Biden would give tax breaks to those who buy electric cars, install solar panels, or make their homes more energy efficient. Further credits would go to babysitters, the elderly, and those who pay more than 30 percent of their income toward rent. Trump would expand the Opportunity Zones in depressed areas, give tax breaks to cRead More From Source

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The Epoch Times

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