Republican candidate and former President Donald Trump has promised to eliminate taxes on overtime work if he is re-elected. During a campaign event in Tucson, Arizona, Trump stated that this move would incentivize people to work more and make it easier for businesses to hire. He emphasized that workers who put in overtime are some of the hardest-working citizens, including police officers, nurses, and construction workers. Trump’s proposal is part of a series of tax cuts he is pledging, including extending income tax cuts from 2017, eliminating taxes on tips, and lowering the corporate tax rate to 15 percent. However, he did not provide details on how he would fund this latest tax plan, which could contribute to the country’s growing national debt. In response, Democratic nominee Vice President Kamala Harris has also outlined plans to lower taxes for working and middle-class Americans, including tax credits for first-time homebuyers, small businesses, and families with children. Harris has also proposed raising taxes on wealthier individuals and corporations. The Harris campaign accused Trump of being desperate and making promises to benefit himself and his wealthy allies. This tax proposal is likely to be a significant issue in the upcoming election, as both candidates have divergent views on how to approach taxation and support the American workforce.
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Trump vows to eliminate all taxes on overtime if re-elected in US Election 2024.
