Democratic presidential candidate Hillary Clinton confirmed she plans to raise taxes by at least $1 trillion dollars during an interview with New York Daily News released Monday.
The former secretary of state proposed a slew of new hikes – including a 28 percent cap on itemized deductions to raise $350 billion for college subsides. Through “business tax reform,” she said she plans to bring in $275 billion for infrastructure purposes and plans to raise somewhere between $400 and $500 billion in revenue by eliminating certain deductions, raising the estate tax, capital gains tax and implementing the “Buffett Rule,” meaning anyone making over $1 million a year will face at least a 30 percent tax rate.
Read clips from the transcript below:
Clinton: I have connected up my proposals for the kind of investments I want to make with the taxes that I think have to be raised. So on individual pieces of my agenda, I try to demonstrate clearly that I have a way for paying for paid family leave, for example, for debt-free tuition. So I would spend about $100 billion a year. And I think it’s affordable, and I think it’s a smart way to make investments, to go back to our economic discussion, that will contribute to growing the economy.