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.
Now I’m well aware that this is a heavy lift. I understand that. But I think connecting what I’m asking for to the programs, to the outcomes and results that I’m calling for give me a stronger hand, and that’s how I’m going to go at it.