Yes, by all means, we can encourage yuge economic growth by foisting massive regulations and expenses on businesses and transferring more tax dollars from those who pay taxes to those who don’t. That’s the ticket.
The core components of Trump’s proposal include allowing working parents to deduct child care expenses from their income taxes, creating dependent care savings accounts and guaranteeing six weeks of paid maternity leave.
The plan accounts for lower-income families with no tax liability; they would receive rebates through the existing earned income tax credit.
Under Trump’s plan, tax-deductible child care would be capped at the average cost of care for the state of residence and would be available only to individuals earning less than $250,000 (or $500,000 for parents who file their tax returns jointly).