Posted on 09/13/2016 4:44:33 PM PDT by bobsunshine
NEW YORK, NY – Today Mr. Trump will proposes an innovative plan to bring federal tax policies in line with the needs of today's families. His plan is not for the wealthy, but rather provides the biggest benefit to working- and middle-class families. This plan is needed because child care expenses are one of the largest expenses in many families, complicating a family's decision on how to care for young children. The Trump reforms will allow a family to make the choice of whether a parent should work outside the home or not without bias from the tax code. Having employed and empowered thousands of women at every level throughout his entire career, Donald Trump understands the needs of the modern workforce.
Proposals Contained In Mr. Trump Child Care Plan
PROPOSAL: The Trump plan will rewrite the tax code to allow working parents to deduct from their income taxes child care expenses for up to four children and elderly dependents. •The deduction is available for taxpayers who take the standard deduction as well as itemize deductions, and will be capped at the average cost of care for the state of residence. Individuals earning more than $250,000 (or $500,000 if filing jointly) will not be eligible for the deduction. For a family earning $70,000 per year in the 12 percent tax bracket with $7,000 in child care expenses, the deduction would reduce taxes by $840 per year. •The plan will offer child care spending rebates to lower-income taxpayers through the existing Earned Income Tax Credit (EITC). This could mean almost $1,200 per year per eligible family. •Mr. Trump's plan will ensure stay-at-home parents will receive the same tax deduction as working parents, offering compensation for the job they're already doing, and allowing them to choose the child care scenario that's in their best interest.
PROPOSAL: The Trump plan would create new Dependent Care Savings Accounts (DCSAs) so that families can set aside extra money to foster their children's development and offset elder care for their parents or adult dependents. These new accounts are available to everyone, and allow both tax-deductible contributions and tax-free appreciation year-to-year-unlike current law Dependent Care Flexible Spending Accounts (FSAs), which are available only if it is offered by an employer and does not allow balances to accumulate. •When established for a minor, funds from a DCSA can be applied to traditional child care, after-school enrichment programs and school tuition-contributing to school choice. To help lower-income parents, the government will match half of the first $1,000 deposited per year. •When established for an elderly dependent, a DCSA can cover a variety of services, including in-home nursing and long-term care.
PROPOSAL: Mr. Trump's plan will provide regulatory reform to promote new family-based and community-based solutions, and also add incentives for employers to provide child care at the workplace. The ability to set aside funds will be particularly helpful to women, low-income workers and minorities, who are statistically more likely to reduce time working outside the home in order to provide unpaid care.
PROPOSAL: The Trump plan will guarantee six weeks of paid maternity leave by amending the existing unemployment insurance (UI) that companies are required to carry. The benefit would apply only when employers don't offer paid maternity leave, and would be paid for by offsetting reductions in the program so that taxes are not raised. This enhancement will triple the average paid leave received by new mothers.
Butter this.
I guess we can promise anything and then get in and say no. Yeah, tat works. Idiot.
I agree. Moms should stay home, and take care of their children. Dad’s should support them. Then there would be no need for this. Of course, the left has destroyed that for all time as they have destroyed many things that were good.
So we’re back to the same old same old of offering people free stuff to buy their votes thing again.
When will Republicans learn they will never be able to outbid the Democrats/Socialists?
Answer: probably not until they lose a bunch of voters who will not vote for either socialists or socialist-lite.
LOL, classy aren’t you?
You missed the point, he has to get in first. Without the women vote, he probably can’t.
Expanding the earned income tax credit for families who pay no income tax.
What’s not to like?
Goldman Sachs and the open borders barons raping Main Street.
What’s not to like?
All chilcare receivers should give thank you letters to their payers for raising their child.
No thank you card & video, no childcare payments.
no you missed the point buttercup. You can’t call names and then tell others they have no class and if you want your candidate to lie his way into the wh then count me out. Actually your the one who assumes he’s lying. My worry is he is actually serious about being a nanny for everyone. Butter cup
“Have you ever been on the working twice as hard part of this equation.”
I have———and it is quite tough at times. We had several out at one time and the rest of us carried the load.
.
Where are you getting this? I scanned the article again and didn't see this?
A little Socialism is better than a lot of Clinton Communism.
Yeah, but the libtards will insist the welfare recipients should get paid for taking care of their kids, too. It is only fair... If we can put a man on the moon... For the children.... Women and children affected most...
When I was growing up as a child in the sixties and early seventies we had an elderly housekeeper. She was paid to keep the house, prepare the meals, and provide discipline if needed. Unfortunately, the gooberment saw the need to compel my mom and dad to pay FICA, un-employment, social security, state and other taxes on her employment. This caused my mom and dad to release her from our home because it became too expensive. It was sad to see her go for she was with us for 16 years.
If the income of home care employees could be exempted from this tax burden more and more mature adults could be “employed” to help with families.
It is a win win for the home care person and the families of the United States of America.
LOL, classy aren’t you?
You missed the point, he has to get in first. Without the women vote, he probably can’t.
Exactly Trump is pandering. OMG. Same folks with their panties in bunch (excuse my language) about this proposal had no problem with Saint Cruz of Goldman invoking the name of the Lord on Twitter (pandering) while trolling for votes. What’s good for the goose...
Wow, buttercup is not derogatory around here.
Kind of like, stiff upper lip. suck it up, deal with it. Where are you from that that saying is derogatory?
But at least I didn’t call you an idiot. I’m pretty sure that’s derogatory no matter where you come from.
I don’t like social engineering via the tax code and would love to see income tax abolished - but - I have seen worse.
I might be tea party and Trump might not be but he’s still a complete breath of fresh air - and the alternative is Drooling Evil.
I hear you but if he prosecutes and imprisons the corrupt in DC that alone will pay for it. We shall see. We can hope with Trump. There is no doubt with Hillary.
Maybe in the ozarks calling akan buttercup is not derogatory. That’s where I’m from. Sweetheart. What’s you’re limit on candidate socialist programs before you stop calling conservatives who oppose it names?
A little Socialism is better than a lot of Clinton Communism.
Trump needs to out flank Hillary and he’s certainly getting no help from the “True Conservative” wing of the GOP to do it.
This is all campaign hot air. None of it is written in stone. If it wins him a few votes that replaces stay at home tantruming never Trumpers this proposal will serve it’s purpose.
I hear you but if he prosecutes and imprisons the corrupt in DC that alone will pay for it. ????
Trump is like chemotherapy. Lots of side effects, but amongst our only chances to fight the cancer.
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