WASHINGTON—There is an enormous gulf between the presidential candidates on tax policy—with trillions of dollars at stake over the next decade.
President Trump is campaigning to continue his administration’s biggest legislative achievement, the 2017 tax law, which lowered taxes on businesses and individuals while increasing budget deficits. He credits the law with helping spur economic growth in 2018 and 2019, a period when the unemployment rate fell to 3.5% from 4.1%, and is pushing for even more tax cuts in a second term.
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