Detailed below is how a Trump presidency is expected to impact American wallets.
Trump's plan to cut the corporate tax rate is generally viewed as bullish for earnings, particularly for the consumer-discretionary, communication-services, and financial sectors.
Trump's plan for universal tariffs is seen as offsetting a positive tax impact and would be especially costly for lower-earning Americans.
Trump has proposed expanding the child tax credit, which currently provides up to $2,000 per child.
In August, the vice presidential candidate JD Vance floated a child tax credit proposal that would include $5,000 per child for families of all income levels.
Persons:
Donald Trump, —, Trump, bitcoin, Vance
Organizations:
Trump, Service, Biden, White
Locations:
Americas