~ Author – Joseph Petrillo, CPA Deluzio & Company, LLP, Partner ~
Follow the link provided below for a comparison of the tax policies and proposals of the two major parties’ nominees for President of the United States in 2020: current President Donald Trump and former Vice President Joe Biden. This comparison was provided as an informational resource from Wolters Kluwer.
The proposals reflect the information known at the time of publication and are subject to change prior to election day on November 3, 2020.
Note that the Tax Cuts and Jobs Act (TCJA) largely reflects much of President Trump’s long-established policy goals. Many of the TCJA provisions expire after 2025, and President Trump generally supports making those provisions permanent. The following table only provides a “Trump Proposal” where there is a change from current law or policy, and not where a permanent extension of the TCJA is proposed.