Virtually every major candidate has a proposal that would cost a trillion dollars — making the 2020 race look more like an arms race
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Harris is calling for $10 trillion “in public and private funding” to fight climate change. She also has a $3 trillion plan to expand the Earned Income Tax Credit, a wage supplement for low-income Americans. Buttigieg this month introduced a health care plan he said would cost $1.5 trillion. His environmental plan would cost between $1.5 trillion and $2 trillion, he figures.
Even Amy Klobuchar who has repeatedly criticized her opponents' proposals as unrealistically large, has a $1 trillion infrastructure plan. Some are looking beyond traditional income tax increases for additional cash. Aside from her wealth tax, Warren would also impose a new surcharge on large corporations, based on an alternative set of accounting rules. Booker wants to begin taxing capital gains annually, instead of only when assets are sold. Sanders, meanwhile, has endorsed a new levy on financial transactions, among other increases.
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