Where the 2020 Presidential Candidates Stand on Tax Policy

Updated January 13, 2020

How would the 2020 presidential candidates change the tax code? We dig into the details of their latest proposals.

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Asterisks denote candidates who have suspended their campaigns.

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Overview
D

Michael Bennet

Overview of tax proposals

Michael Bennet would repeal the tax cuts in the Tax Cuts and Jobs Act. He would expand the child tax credit, the earned income tax credit, and the premium tax credit. He would increase tax incentives to use zero-emissions vehicles and public transit.

Overview
D

Michael Bloomberg

Overview of tax proposals

When Michael Bloomberg announced his candidacy, he said he would be outlining plans to raise taxes on wealthy individuals. He would expand the child tax credit, the earned income tax credit, and the premium tax credit. He would eliminate tax preferences for fossil fuels and increase tax incentives for investments in clean energy.

Overview
D

John Delaney

Overview of tax proposals

John Delaney would increase income taxes for high-income taxpayers and corporations and expand the earned income tax credit. He would offer tax credits to people who opt out of his proposed public health insurance plan and buy private insurance. He would eliminate tax preferences for fossil fuels, impose a carbon fee, and increase tax incentives to use energy-efficient technologies.

Overview
D

Amy Klobuchar

Overview of tax proposals

Amy Klobuchar would increase income and payroll taxes for high-income taxpayers and corporations, expand the child and dependent tax credit and the earned income tax credit, and enhance incentives for retirement saving. She would eliminate tax preferences for fossil fuels and increase tax incentives for investment in energy-efficient technologies. Her plan would also force big banks to pay a financial risk fee.

Overview
D

Bernie Sanders

Overview of tax proposals

Bernie Sanders would increase income and payroll taxes for very high–income taxpayers and corporations. His plan includes a wealth tax and an increase in estate taxes. He would eliminate fossil fuel tax preferences, impose a tax on the fossil fuel industry, and extend tax credits to displaced energy workers. He would also impose a tax on purchases of securities and transactions involving derivatives.

Overview
R

Donald Trump

Overview of tax proposals

Donald Trump has not released a tax plan as part of his campaign for reelection. Newspaper articles suggest he is developing a proposal to cut taxes. In the past, he has indicated support for tax cuts for middle-income taxpayers.

Overview
D

Elizabeth Warren

Overview of tax proposals

Elizabeth Warren would increase income and payroll taxes for high-income taxpayers and corporations. Her plan includes a wealth tax and an increase in estate taxes. Under her plan, employers would be required to pay a share of the costs of covering their employees through the new Medicare for All program. She would eliminate tax preferences for oil and gas and increase tax incentives to use energy-efficient technologies. She would impose a tax on organizations that spend substantial amounts on lobbying. She would also impose a tax on purchases of securities and transactions involving derivatives and force large banks to pay a financial risk fee.

Overview
D

Andrew Yang

Overview of tax proposals

Andrew Yang would create a value-added tax, raise payroll taxes for high earners, and create a universal basic income. He would create incentives for investments in certain regions and industries. He would eliminate tax preferences for fossil fuels and impose a carbon tax. He would also impose a tax on purchases of securities and transactions involving derivatives.

Overview
D

Julián Castro

Overview of tax proposals

Julián Castro would repeal the Tax Cuts and Jobs Act and replace the estate tax with an inheritance tax. He would expand the child tax credit and the earned income tax credit and create a tax credit for low- and middle-income renters. He would eliminate tax preferences for fossil fuels, impose a carbon fee, and reinstate the Superfund tax.

Overview
D

Joe Biden

Overview of tax proposals

Joe Biden would increase income and payroll taxes for high-income individuals and corporations, expand the earned income tax credit and the premium tax credit, and enhance incentives to save for retirement. He would eliminate tax preferences for fossil fuels and increase tax incentives to use energy-efficient technologies.

Overview
D

Pete Buttigieg

Overview of tax proposals

Pete Buttigieg would increase income taxes for corporations while expanding the earned income tax credit and the premium tax credit. He would eliminate tax preferences for fossil fuels, impose a carbon tax, and increase tax incentives for investment in energy-efficient technologies.

Overview
D

Tulsi Gabbard

Overview of tax proposals

Tulsi Gabbard would increase payroll taxes while reducing the tax on Social Security benefits. She would also eliminate tax preferences for fossil fuels and increase tax credits to use energy-efficient technologies. She would impose a tax on purchases of securities and transactions involving derivatives.

Overview
D

Deval Patrick

Overview of tax proposals

Deval Patrick has not released a tax plan.

Overview
D

Tom Steyer

Overview of tax proposals

Tom Steyer would roll back the tax cuts in the Tax Cuts and Jobs Act and expand the earned income tax credit. He would also create a wealth tax. He would impose a tax on some polluters.

Overview
R

Joe Walsh

Overview of tax proposals

Joe Walsh has not released a tax plan. In public statements during the campaign, he has spoken in favor of a carbon tax.

Overview
R

Bill Weld

Overview of tax proposals

Bill Weld has not released a tax plan. In public statements during the campaign, he has spoken in favor of a flat tax, lower tax rates on capital gains, a carbon tax, and repeal of the estate tax.

Overview
D

Cory Booker

Overview of tax proposals

Cory Booker would increase income taxes for wealthy individuals and corporations, boost the estate tax, expand the earned income tax credit, and create a tax credit for low- and middle-income renters. He would eliminate tax preferences for fossil fuels, impose a carbon fee, and increase tax incentives to use energy-efficient technologies.

Overview
D

Marianne Williamson

Overview of tax proposals

Marianne Williamson would permanently extend the middle-income tax cuts and repeal the corporate tax cuts in the Tax Cuts and Jobs Act, raise payroll taxes for high earners, create a universal basic income, and boost the estate tax. She would eliminate tax preferences for fossil fuels and fine corporations that do not meet greenhouse-gas emissions targets. She would impose a tax on purchases of securities and transactions involving derivatives.