Be the most informed person in the room with Newsy's free e-newsletter

View our privacy policy: http://www.newsy.com/privacy/
Trump's Conflicts of Interest
Featured Series: Trump's Conflicts of Interest
Donald Trump's international web of businesses creates unprecedented potential for conflicts of interest and corruption. And some picks for his administration might have to face their own...

Clinton Says Trump's Tax Plans Would Cost Millions Of Jobs

Here are the studies behind Hillary Clinton's claims about Donald Trump's tax plans.
SMS

Hillary Clinton says Donald Trump's tax plans would cost 3.5 million jobs and add $5 trillion to the national debt.

That first stat is based on a report from Moody's Analytics.

Moody's found Trump's plan would cost the economy 3.5 million jobs and increase the unemployment rate to 7 percent. Moody's says Trump's plan would add $1 trillion to the deficit in 2020, the last year of his term.

SEE MORE: Hillary Clinton Lays Into Donald Trump On His Tax Returns

The deficit and the debt aren't the same thing. Deficit is the imbalance in the budget, but national debt is all the money the country owes.

Other estimates on how much Trump's plan would increase the deficit are in a similar range. The Tax Foundation says the federal deficit would increase by over $10 trillion over a decade, and the Tax Policy Center says Trump's plan would produce deficits of $11.2 trillion. 

Clinton got that $5 trillion national debt increase from the Committee for a Responsible Federal Budget. It used the Tax Foundation's analysis to calculate how much Trump's plan would add to the national debt and found it would add $5.3 trillion over a decade. The committee says Clinton's plan would increase the debt by $200 billion.

Featured Stories
Mike Pompeo and Rex Tillerson

Pompeo Confirmed For CIA Head, Rex Tillerson Approved By Senate Panel

People on the National Mall.

Supporters, Detractors Describe Hopes For Trump's Presidency In 1 Word

Donald Trump signs a memorandum.

With The Stroke Of A Pen, Trump Pulls The US From The TPP

Want to see more stories like this?
Like Newsy on Facebook for More Presidential Election Coverage