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Election 2020: A head-to-head comparison of the candidates’ fiscal policies

Despite the noise surrounding the 2020 presidential election, the candidates have supported some fiscal policy changes that could affect personal and business wealth after the election, and for years to come. The biggest question that neither President Trump nor Former Vice President Biden has answered is whether there will be another round of stimulus to combat economic losses due to the pandemic. While any stimulus package effects on individuals and corporations are still big unknowns, we can glean insights into what changes we can expect from a Trump or Biden administration based on the candidates’ own statements.

Let’s take a look at the candidates’ platform issues regarding a few key topics, bearing in mind that any substantive changes will depend on which party controls the U.S. House and Senate after the election.

*This comparison chart is not intended in any way to suggest that Bsquared, Inc. nor its team members endorse a specific presidential candidate. It is simply designed to provide a starting point for your individual research on the issues that typically affect business owners during an election year. We encourage you to further research each candidate and vote in the manner you believe best aligns with your business goals and personal values.

2020 Presidential Election Comparison Chart

Sources:

https://www.investopedia.com/democratic-debate-policy-cheat-sheet-4691340
https://www.investopedia.com/taxes/trumps-tax-reform-plan-explained/
https://www.pwc.com/us/en/services/tax/library/potential-effects-of-biden-business-tax-proposals.html
https://www.investopedia.com/comparing-the-economic-plans-of-trump-and-biden-4843240