White House · Axios
Dems eyeing 2028 want major tax cuts, but big hikes for the rich
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Some Democrats eyeing runs for the White House have rolled out a provocative new economic policy: massive tax cuts for the working and middle classes, and big hikes for the wealthy.
Key facts
- The proposals by Democratic presidential hopefuls include eliminating federal income taxes for half of all U.S. workers, making the first $75,000 of income earned by married couples tax-free
- Beyond D.C., likely 2028 contenders are making lower taxes central to their state-level campaigns
- The anti-tax fervor is spreading beyond those considering 2028 presidential runs
- Some Democrats eyeing runs for the White House have rolled out a provocative new economic policy: massive tax cuts for the working and middle classes, and big hikes for the wealthy
Summary
Republicans may lose the midterm elections because of voters' anger over high prices, but Democrats are still struggling to figure out how to address voters' concerns about inflation. The proposals by Democratic presidential hopefuls include eliminating federal income taxes for half of all U.S. workers, making the first $75,000 of income earned by married couples tax-free, and enacting a variety of state-based tax cuts and credits. Critics argue that some of the plans would squander funds that should be spent on social services, undermine the argument for government programs, and amount to political pandering, or what they call "slopulism. The tax-cut proposals, Democratic versions of a strategy long associated with the GOP, are triggering what some are describing as the biggest policy battle on the left in years.