Which Candidate is Better for Small Business?

Love them or hate them, Westchester voters will almost certainly be choosing between Hillary Clinton and Donald Trump in the presidential election this fall, so it’s important to know where these two polarizing candidates stand on business issues. Here, we break down three of the most crucial:

 

Hillary Clinton

Donald Trump

   

Official Position: Simplify tax filing and provide targeted tax relief for small businesses

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Her Plan: Close corporate-tax loopholes to ensure “millionaires and billionaires can’t pay lower rates than middle-class families,” and streamline current tax-filing policies

Campaign-Trail Soundbite: “Reforming our tax code to promote strong, fair, long-term growth is a centerpiece of my campaign. Hard-working middle-class families and small businesses need and deserve tax relief and simplification.” —Florida International University in Miami, July 2015

Official Position: Implement pro-growth tax reform for businesses of all sizes

His Plan: No business will pay more than 15 percent of its business income in taxes.

Campaign-Trail Soundbite: “The thing I’m going to do is make sure the middle class gets good tax breaks…. I’m going to fight especially hard for business.” — NBC News’ Meet the Press with Chuck Todd, May 2016 

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Official Position: Support and build upon Obamacare in order to expand affordable health coverage for consumers and small businesses

Her Plan: Reduce insurance costs by implementing tax credits, cracking down on rising prescription-drug prices and investing in healthcare technologies

Campaign-Trail Soundbite: “What we have to do, I think, is defend the Affordable Care Act and fix it.” —Iowa campaign appearance, January 2016

 

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Official Position:  Repeal Obamacare and create policies that will make healthcare more affordable

His Plan:  Break down barriers that prevent health insurance from being sold across state lines, to increase competition among providers and reduce costs

Campaign-Trail Soundbite: “You get rid of the [state] lines; it brings in competition. So, instead of having one insurance company taking care of New York or Texas, you’ll have many. They’ll compete, and it’ll be a beautiful thing.” —Republican Presidential Debate, February 2016

   

Official Position: Increase the minimum wage

Her Plan: Raise the minimum wage to $12 an hour; allow local communities to set higher minimums if they have support

Campaign-Trail Soundbite: “We need to build on what was done here in New York and go all the way to Washington and raise the minimum wage for everybody.” —Manhattan rally, April 2016

Official Position: Spoke out against raising the minimum wage during primary season; more recently, he has indicated being open to an unspecified increase. 

His Plan:  States will determine their own minimum wage.

Campaign-Trail Soundbite: “I don’t know how people make it on $7.25 an hour.… I would like to see an increase of some magnitude. But I’d rather leave it to the states.” —NBC News’ Meet the Press with Chuck Todd, May 2016

   

 

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