Trump's 100 Day Plan
FIRST 100 DAYS
During the campaign, Trump released an outline detailing his plans for his first 100 days in office. Within the “100 day plan presentation,” Trump listed several tax proposals to immediately work with Congress on enacting:
- The Middle Class Tax Relief and Simplification Act-According to Trump, the legislation would provide middle class families with two children a 35 percent tax cut and lower the “business tax rate” from 35 percent to 15 percent. During the campaign, Trump described the plan as “an economic plan designed to grow the economy 4 percent per year and create at least 25 million new jobs through massive tax reduction and simplification.”
- Affordable Childcare and Eldercare Act - A proposal described by Trump during the campaign that would allow individuals to deduct childcare and elder care from their taxes, incentivize employers to provide on-site childcare and create tax-free savings accounts for children and elderly dependents.
- Repeal and Replace Obamacare Act - A proposal made by Trump during the campaign to fully repeal the ACA.
- American Energy & Infrastructure Act -A proposal described by Trump during the campaign that “leverages public-private partnerships, and private investments through tax incentives, to spur $1 trillion in infrastructure investment over 10 years.”
This article originally appeared in BDO USA, LLP’s “Post-Election Tax Policy Update” (November 2016). Copyright © 2016 BDO USA, LLP. All rights reserved. www.bdo.com