With just a day to go before the presidential election, it’s easy to get distracted by emotional controversies over Hillary Clinton’s and Donald Trump’s personal qualities. But don’t forget, we’re also picking a leader whose policy positions will have big implications for our own budgets as well as for Uncle Sam’s.
If you’ve been following the election, chances are you’ve got at least a general sense of what’s at stake: Democratic nominee Hillary Clinton emphasizes education, healthcare, and making the rich “pay their fair share.” Trump, her Republican opponent, favors defense spending and big tax cuts. But it’s a lot more complicated than that. For instance, did you know that Trump, breaking with Republican orthodoxy, has called for spending $500 billion over 10 years to reimburse Americans for child-care costs? Or that Clinton wants to cut small business taxes by $100 billion?
The good news: Last month, Washington’s nonpartisan Committee for a Responsible Federal Budget issued a detailed report, comparing the two candidates’ tax and spending priorities side by side. If you want to read the report in its entirety you can do it here. But we’ve pulled out the highlights and added additional context, to give you a bird’s-eye view of how either a President Clinton or a President Trump might reshape the federal budget.