Donald Trump has introduced a proposal aimed at providing a significant tax break for U.S. citizens living abroad, positioning the initiative as a way to attract votes from Americans who could benefit from the change.
The former president and current Republican candidate unveiled this promise in a video shared by Solomon Yue, CEO of Republicans Overseas. Trump is expected to further discuss the proposal during an appearance at the Economic Club of Detroit.
This marks the latest in a series of targeted tax breaks Trump has put forward. His previous proposals have included tax exemptions for tip income, overtime pay, and Social Security benefits — policies mainly aimed at working- and middle-class voters. However, much of Trump’s broader tax plan remains focused on benefiting corporations and high-income earners, such as his intention to restore the 2017 tax overhaul and reduce the corporate tax rate from 21% to 15%.
The new proposal addresses the double taxation issue, where Americans living overseas may be required to pay taxes both in their country of residence and to the U.S. government. Although the U.S. has tax agreements with some countries to lessen this burden, the problem persists for many expatriates. Trump’s campaign has not yet released details on how his plan would specifically address this issue.
In the video posted by Yue on X (formerly Twitter), Trump urges Americans living abroad to ensure they’re registered to vote, promising to “take very good care of you.”
“I’m going to end double taxation for our overseas citizens once and for all,” Trump said. “You’ve been asking for this for years, and no one has listened. You deserve it, and I’m going to make it happen.”
While the plan is intended to help expatriates, it could also provide financial advantages to wealthier Americans by creating opportunities to live in low-tax countries and reduce or avoid U.S. taxes.
Yue applauded Trump for his commitment, noting that Republicans Overseas has been advocating for expatriates’ rights for a decade. He explained that while many politicians have sympathized with the issue of double taxation, few have taken steps to address it.
Trump’s outreach to overseas Americans follows earlier statements in which he linked these voters to his unfounded claims of widespread voter fraud in the upcoming 2024 election. On his social media platform Truth Social, Trump accused Democrats of working hard to secure millions of votes from Americans living overseas, suggesting that such efforts were a plan to “cheat” in the election.
He also expressed concern that expanding access to voting for expatriates could dilute the votes of military service members, whom Trump believes are more likely to support him over Democratic nominee Kamala Harris.
- RETAIL BLACKOUT: Kroger reveals all 1,200 locations will change their hours for the entire day and Walmart isn’t any help - November 21, 2024
- Healthcare Provider CareMax Files for Bankruptcy with $690 Million in Debt - November 21, 2024
- Matt Gaetz’s Alleged Venmo Payments to Women Exposed in Leaked Chart - November 21, 2024
