What is Donald Trump’s tax plan? Here’s what we actually know

Donald Trump has repeatedly shamed Hillary Clinton for her policies regarding taxes, but what is Trump’s tax plan? Despite what he had to say at tonight’s debate (which basically boils down to the idea that he’s going to lower taxes, while Clinton would do the opposite), it seems like Trump’s tax plan isn’t going to do much good for middle class families and may have a complicated impact on businesses, as well.

Research from Lily Batchelder, formerly the deputy director of Obama’s National Economic Council and majority chief tax counsel for the Senate Finance Committee, found that approximately 20 percent of households with children and the majority of single parents may actually end up paying more taxes than they currently do under Obama’s policies. This is because of changes he’d make to the tax code, like raising the lowest tax bracket to 12 percent from 10 percent. What this means is that millions will likely be negatively impacted by Trump’s policies.

When it comes to businesses, Trump’s plan is still unclear. Things have switched around a bit, as it’s not clearly laid out whether all businesses, or only some, will pay the proposed 15 percent tax rate. According to The Wall Street Journal, Michael Shapiro, an economic policy adviser to Clinton, “His plan does exactly what he has designed it to do: provide billions in tax breaks to wealthy taxpayers like himself.”

We’ll continue to await more specific tax policies from Trump, and are curious about what he’ll settle on as he continues to go more in depth in future debates. Trump has repeatedly said he’s not going to raise taxes and is going to “bigly” lower them, so we’ll stay tuned as the election continues to see what he’s got in mind for making this happen.