Overview

• Biden wants to end Trump-era tax cuts for incomes above $400,000 and increase corporate taxes.
• Trump pledges to extend and deepen tax cuts, including ending taxes on tips.
• The outcome of the tax policy will depend on the control of the White House and Congress in 2025.
• Democrats emphasize raising taxes on the wealthy to fund social programs and reduce the deficit.
• Republicans argue that maintaining and expanding tax cuts will stimulate economic growth.