2024 Presidential Tax Plans Reveal Vastly Different Priorities Between the Frontrunners

2024-05-14

Presidential candidates typically formulate their tax plans in bits and pieces throughout the long campaign season, with the proposals coalescing into a comprehensive plan sometime in the early fall before the general election. So far in 2024, frontrunners President Joe Biden (D) and Donald Trump (R) have publicly discussed several tax proposals they hope to … Continued

Presidential candidates typically formulate their tax plans in bits and pieces throughout the long campaign season, with the proposals coalescing into a comprehensive plan sometime in the early fall before the general election.

So far in 2024, frontrunners President Joe Biden (D) and Donald Trump (R) have publicly discussed several tax proposals they hope to accomplish if they prevail in the November election.

Biden’s priorities for the tax code have become apparent in some of his budget proposals over the past three years, and he appears intent on carrying them forward as part of his campaign tax plan. Trump, on the other hand, seems focused on protecting the major provisions of the Tax Cuts and Jobs Act of 2017 and raising tariffs on Chinese imports.

We will periodically track these tax proposals throughout the presidential campaign and update the chart below. For now, this chart represents the known tax proposals of both frontrunner candidates.

Source: The Tax Foundation

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