Democratic candidate Joe Biden’s tax plan would raise $ 3 trillion in 10 years. Biden seems more likely than President Donald Trump to pick replacement voters. And President Nancy Pelosi is making alternate plans for a contested election.
That’s how much Biden’s tax plan would raise over the next decade, though it would equalize to just around $ 2.65 trillion after accounting for the economic effects of higher taxes on businesses and wages, according to a new analysis. of the Tax Foundation, leaning to the right.
The bottom 20% of wage earners would see their after-tax income increase by 10.8%, in part due to an increase in the child tax credit. The top 1% of wage earners would see their income decrease 9.9% as a result of higher taxes on income, capital gains and additional payroll taxes.
The Trump campaign has run ads saying that Biden’s tax plan would crush the middle class, but data shows that the bottom 80% of taxpayers would see revenue increases in 2021 under Democratic policies.
Over a decade, those people would experience slight declines due to the spill-over effects of higher taxes on businesses. – Laura Davison
Biden seems more likely than Trump to pick up replacement voters
Both Biden and Trump hope to elect a replacement elector in Maine or Nebraska who could decide the presidency. But for now, Biden has the upper hand.
The two states divide their constituents by congressional district, giving Trump a shot in rural Maine, where he won a voter in 2016, and Biden, a shot in Omaha, where Obama won a voter in 2008.
A New York Times / Siena College poll released Monday showed that 48% of likely voters in Nebraska’s Second Congressional District backed Biden and 41% supported Trump, with 11% undecided.
Biden is also ahead by 4 percentage points in the Real Clear Politics poll average in Maine’s 2nd Ward.
Six of the seven scenarios presented by the Trump campaign earlier this month resulted in Trump winning at least one voter in Maine, including two in which he provided the winning margin. Neither showed him losing in Nebraska.
The poll of 420 likely voters in Nebraska’s 2nd Ward was conducted Sept. 25-27. It had a margin of error of plus or minus 5.3 percentage points.
Pelosi makes plans for the electoral college tie
In case this election wasn’t weird enough already, Pelosi is making public plans in the event of a tie in the Electoral College.
There are plausible, if still unlikely, scenarios in battlefield states where Biden and Trump tie at 269-269, and both fail to reach the 270 voters needed to win outright.
If that happens, the presidential race runs to the House in January. But there is a twist: each state only gets one vote. And while Democrats have a majority in the House right now, Republicans control 26 state delegations.
In a letter to her Democratic colleagues, Pelosi urged them to support the House majority political action committee in trying to win a handful of races that could tip more state delegations in their favor.
“Because we cannot leave anything to chance, the House Majority PAC is doing everything possible to win more delegations for Democrats,” Pelosi wrote in the letter. “It is sad that we have to plan in this way, but it is what we must do to make sure the elections are not stolen.”
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