Donald Trump would impose a universal baseline tariff on all U.S. imports, impose a 60 percent tariff on all U.S. imports from China, make the individual and estate tax cuts of the TCJA permanent, lower the corporate income tax rate from 21 percent to 20 percent, tax large private university endowments, and consider replacing the income tax with tariffs.
Business Taxes:
Lower the corporate income tax rate from 21 percent to 20 percent. Read more
Capital Gains and Dividend Taxes:
No tax policies proposed
Credits, Deductions, and Exemptions:
No tax policies proposed
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
Exempt tips from income taxes. In 2018, IRS W-2 data indicates 6.1 million taxpayers reported a total of $38.3 billion in taxable tip income, for an average of $6,249 per taxpayer. Read more
Payroll Taxes:
No tax policies proposed
Tariffs and Trade:
Impose a universal baseline tariff on all U.S. imports. Read more
Impose a 60 percent tariff on all U.S. imports from China. Read more
Consider replacing personal income taxes with increased tariffs. Read more
Other:
No tax policies proposed
