Former President Donald Trump introduced Sunday his assist for a tax credit score for relations who take care of an in poor health mum or dad or liked one.
Trump unveiled his coverage proposal at his historic rally at a sold-out Madison Sq. Backyard.
“I’m saying a brand new coverage in the present day that I’ll assist a tax credit score for household caregivers who maintain a mum or dad or a liked one. It’s about time that they had been acknowledged, proper?” Trump mentioned, drawing a roar of cheers from the group.
“They add a lot to our nation and are by no means spoken of — ever, ever, ever — however they’re going to be spoken of now. Thanks all very a lot,” he added.
Breitbart Information Senior Editor-at-Massive Joel Pollak proposed an analogous coverage in his e-book The Agenda: What Trump Ought to Do in His First 100 Days, which would allow grandparents to say their grandchildren, for whom they commonly care, as dependents:
5. Encourage multigenerational households by increasing the definition of “dependents” for tax functions. President Trump can direct the Treasury and the Inside Income Service to broaden the definition of “depen- dents” to permit grandparents to incorporate grandchildren to whom they supply common care. This may present an incentive for multigenerational households to share within the duties of elevating youngsters—and to be rewarded after they achieve this, reducing baby care prices.
Trump introduced a second proposal Sunday to make auto mortgage curiosity tax deductible on American-made automobiles.
“I’ll additionally make curiosity on automobile loans absolutely tax deductible, however just for automobiles made in America,” he mentioned, which additionally acquired boisterous cheers.
The forty fifth president is operating on quite a few tax coverage proposals this cycle, together with ending taxes on suggestions and additional time and halting taxes on social safety advantages for seniors.
Furthermore, Trump pledges to “massively minimize taxes for staff and small companies.”
