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A Trillion And Counting

- November 29, 2015

Today, Clinton Is Expected To Raise The Cost Of Her Proposals To Over $1 Trillion With A New "Infrastructure Plan"

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TOP TAKEAWAYS

  • Today, Clinton is adding $350 billion in promised spending to her $745 billion in past promises, bringing the total cost of her presidency over $1 trillion in new proposals.
  • Clinton has yet to explain how she will pay for her proposals, except for vaguely worded promises of higher taxes.

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Today, Clinton Is Expected To Propose $350 Billion In New Spending To Fund Her Infrastructure Plan . "Hillary Clinton will use the month of December to focus on her jobs agenda, according to campaign aides, staring with her rally here on Sunday, where the 2016 candidate will roll out details of her infrastructure plan. Clinton's plan -- which aides said would be the 'most significant investment in her agenda' and cost $350 billion -- will consist of a national infrastructure bank, which will put up federal dollars to attract private investment, and more federal spending to 'bankroll upgrades to roads, bridges, airports and public transit.'" (Dan Merica, "Clinton To Pitch Spending $350 Billion On Infrastructure On Sunday," CNN, 11/29/15)

The Proposal Brings Clinton's Overall Spending Plans To $1.1 Trillion. (Dan Merica, "Clinton To Pitch Spending $350 Billion On Infrastructure On Sunday," CNN, 11/29/15; Press Release, "Hillary Clinton's Promise On Student Debt Relief," The Briefing, 8/10/15; Jennifer Epstein, "Hillary Clinton Propose More Funding For Early Childhood Education," Bloomberg, 6/15/15; Laura Meckler, "Clinton Embraces Obama's Call For Expanded Public Preschool," The Wall Street Journal, 6/15/15; Thoman Beaumont, "In Iowa, Clinton Says Climate Plan Will Promote Renewables," The Associated Press , 7/27/15; Richard Rubin, "Hillary Clinton Dangles Tax Credit To Companies That Share Profits With Workers," Bloomberg , 7/16/15; Amy Chozick, "Hillary Clinton Proposes $10 Billion Plan To Combat Drug Epidemic," The New York Times , 9/2/15; Laura Meckler, "Hillary Clinton Backs New Tax Credit For Family Caregivers," The Wall Street Journal , 11/22/15; "Hillary Clinton: Fighting For America's Workers," Correct The Record, Accessed 10/12/15; Bernie Becker, "Inside Congress's $42B Tax-Break Package," The Hill , 12/13/14)

Clinton Has Already Proposed At Least $745 Billion In New Spending Over Ten Years

Clinton's College Plan Cost Will Be A Staggering $350 Billion Over 10 Years. "Clinton's New College Compact plan costs in the range of $350 billion over 10 years and will be fully paid for by closing tax loopholes and expenditures for the most fortunate." (Press Release, "Hillary Clinton's Promise On Student Debt Relief," The Briefing, 8/10/15)

Clinton Has Laid Out A Plan To "Double Funding" For Early Head Start And The Early Head Start Childcare Partnership Grant Program. "Clinton, who formally launched her campaign for the Democratic presidential nomination on Saturday, said she hopes to double funding for Early Head Start and the Early Head Start Childcare Partnership grant program, and supports a middle-class tax cut 'that can go toward helping parents pay for quality child care.'" (Jennifer Epstein, "Hillary Clinton Propose More Funding For Early Childhood Education," Bloomberg, 6/15/15)

  • The Expected Child-Care Proposal "Is Estimated To Cost At Least $200 Billion." "Her college-affordability plan is estimated at $350 billion over 10 years, and an expected child-care proposal is estimated to cost at least $200 billion. Those are modest sums next to Mr. Sanders's agenda." (Laura Meckler, "Price Tag Of Bernie Sander's Proposals: $18 Trillion," The Wall Street Journal, 9/14/15)

Clinton Backed A Proposal From President Obama To Expand Preschool For Low-Income Children. "Hillary Clinton proposed expanded preschool for low-income children, backing a proposal from President Barack Obama that has failed to advance through Congress." (Laura Meckler, "Clinton Embraces Obama's Call For Expanded Public Preschool," The Wall Street Journal, 6/15/15)

  • A Similar 2013 Proposal Was Estimated To Cost $75 Billion Over 10 Years. "A similar 2013 proposal from Mr. Obama was estimated at $75 billion over 10 years." (Laura Meckler, "Clinton Embraces Obama's Call For Expanded Public Preschool," The Wall Street Journal, 6/15/15)

Clinton's Spokesman Said Clinton's Energy Plan Would Cost $60 Billion Over 10 Years And Would Be Paid For By Higher Taxes. "The plan's estimated cost is about $60 billion over 10 years, and would be paid for by eliminating tax breaks for the oil and gas industry, Clinton spokesman Brian Fallon said." (Thoman Beaumont, "In Iowa, Clinton Says Climate Plan Will Promote Renewables," The Associated Press , 7/27/15)

Clinton's Proposed Profit-Sharing Plan Would Cost The U.S. Government Between "$10 Billion To $20 Billion Over A Decade." "The tax credit would last just two years and cost the government $10 billion to $20 billion over a decade, according to the campaign, which says those costs would be offset by closing 'loopholes' that Clinton will specify later. She is speaking Thursday afternoon in New Hampshire about the proposal." (Richard Rubin, "Hillary Clinton Dangles Tax Credit To Companies That Share Profits With Workers," Bloomberg , 7/16/15)

Clinton Plans To Offer Businesses A $1500 Hiring Tax-Credit Per Apprentice. "Her idea is to offer businesses a tax credit of $1,500 per apprentice, with extra incentives for hiring young adults. The proposal is similar to legislation proposed by two bipartisan pairs of senators, and the White House also has backed the concept, hosting a summit on apprenticeship and making grants to support the programs." (Laura Meckler, "Hillary Clinton Proposes Tax Credit For Business To Train Apprentices," The Wall Street Journal , 6/17/15)

  • The Center For Law And Social Policy Estimated The Credit Costs "More Than $1 Billion Annually" Of Tax Revenue, Or $10 Billion Over Ten Years. "The credit costs more than $1 billion annually, mostly in the form of tax revenue lost to the U.S. Treasury., according to the Washington-based Center for Law and Social Policy, which promotes policies to help low-income people." (Angela Greiling Keane, "Hillary Clinton's Jobs Tax Credit Recalls Past Stimulus Tries," Bloomberg, 7/13/15)

Clinton Proposed A $10 Billion Plan To Combat Drug Abuse And Increase Spending On Treating Addiction. "Hillary Rodham Clinton on Wednesday released plans for a $10 billion initiative to combat the escalating drug epidemic that she says has swept through rural America and has emerged as a regular concern among voters she has met in the early nominating states." (Amy Chozick, "Hillary Clinton Proposes $10 Billion Plan To Combat Drug Epidemic," The New York Times , 9/2/15)

Clinton Proposed A New Tax Credit And Rules For Social Security Benefits To Aid American Caregivers. "An aide to the Democratic front-runner said the tax credit would help families offset up to $6,000 to pay for coordinating or providing care for aging or disabled family members. Caregivers would also see added Social Security benefits under Clinton's plan, which is expected to be rolled out a town hall meeting in Iowa on Sunday afternoon, the aide said. The former secretary of State will also call to reforms to support paid and unpaid caregivers and recognize their contributions." (Kyle Balluck, "Clinton Calling For Tax Breaks To Help Families Care For Ailing Relatives," The Hill , 11/22/15)

  • Clinton's Campaign Has Estimated The Cost Of Her Plan At $10 Billion Over The Next Ten Years . "A Clinton aide said the total cost of the initiatives was estimated at $10 billion over 10 years. The campaign did not detail a particular revenue source to offset the cost but said various tax increases proposed over the course of the campaign would be enough to cover it." (Laura Meckler, "Hillary Clinton Backs New Tax Credit For Family Caregivers," The Wall Street Journal , 11/22/15)

Clinton Has Proposed A "$1 Billion Per Year Innovation Fund To Encourage States To Develop Family Leave And Paid Leave Policies , " Or $10 Billion Over 10 Years. "Hillary Clinton proposed a $1 billion per year innovation fund to encourage states to develop family leave and paid leave policies and repeatedly cosponsored legislation to provide seven paid sick days a year to American workers." ("Hillary Clinton: Fighting For America's Workers," Correct The Record, Accessed 10/12/15)

Clinton Has Proposed Bringing Back The New Markets Tax Credit. CLINTON: "I want to bring back a program that was started in the Clinton administration called the New Markets Tax Credit which helps small businesses in economically struggling communities." (Hillary Clinton, Remarks, New England Council Politics And Eggs, 10/28/15)

  • The Congressional Budget Office Estimates The Cost Of The Credit To Be About $10 Billion Over 10 Years. "New Markets Tax Credit - Some lawmakers love this incentive, which seeks to spur private investment in economically struggling areas, and even want to expand it. Others, like Sen. Tom Coburn (R-Okla.), say many of the investments happen in areas that are not distressed. (Cost: $978 million)" (Bernie Becker, "Inside Congress's $42B Tax-Break Package,"The Hill, 12/13/14)

HOW WILL CLINTON PAY FOR $1 TRILLION IN NEW SPENDING? EXCEPT FOR THE USUAL AMBIGUOUS TAX INCREASE, CLINTON REFUSES TO SAY

Clinton's Campaign Has Offered The Usual Ambiguous Tax Increases As A Way To Pay For Her Billion Dollar Hiring Tax Credit Plan, "But Haven't Detailed Them Yet." "As with Monday's preschool proposal, the campaign didn't provide a cost estimate of the apprenticeship plan. Campaign aides have said that Mrs. Clinton's proposals would be paid for with tax increases or spending cuts, but haven't detailed them yet." (Laura Meckler, "Hillary Clinton Proposes Tax Credit For Business To Train Apprentices," The Wall Street Journal , 6/17/15)

"It Isn't Clear Yet" How Clinton Would Pay For Her $350 Billion College Education Plan. "The Democratic presidential candidate's campaign estimates that her plan -- which would include 'no-loan tuition' at state schools -- would cost about $350 billion over 10 years. Like many candidates, lawmakers and presidents before her, she is looking to the richest Americans to foot the bill. 'Clinton's New College Compact plan ... will be fully paid for by closing tax loopholes and expenditures for the most fortunate,' according to documents from the campaign. Just how fortunate isn't clear yet, nor is it clear which specific tax breaks and 'loopholes' Clinton will target specifically." (Jeanne Sahadi, "Who Will Pay For Hillary Clinton's College Plan," CNN, 8/10/15)

Clinton Has Made "No Reference To The Cost Of Financing" Her Childcare Initiative. In addition, Clinton 'called for doubling our investment in Early Head Start and the Early Head Start-Child Care partnerships.' There is a lot of background about the importance of early childhood education, but there is no reference to the cost or financing of the initiative." (Phillip Klein, "Hillary Clinton 'Fact Sheet' On Her Universal Preschool Proposal Doesn't Say How She'll Pay For It," The Washington Examiner , 6/15/15)

Clinton "Did Not Detail A Particular Revenue Source To Offset" The Billions In New Government Spending To Fund Her Family Caregivers Tax Credit. The campaign did not detail a particular revenue source to offset the cost but said various tax increases proposed over the course of the campaign would be enough to cover it." (Laura Meckler, "Hillary Clinton Backs New Tax Credit For Family Caregivers," The Wall Street Journal , 11/22/15)

Clinton Has Called For A Repeal Of The Cadillac Tax, But Has Passed The Burden Of Replacing The Lost Revenue Onto Congress Calling On Them To "Fully Pay For The Cost Of Repeal." "' Too many Americans are struggling to meet the cost of rising deductibles and drug prices. That's why, among other steps, I encourage Congress to repeal the so-called Cadillac Tax, which applies to some employer-based health plans, and to fully pay for the cost of repeal,' Clinton said in a statement." (Anne Gearan, "Clinton To Call For Nixing 'Cadillac Tax' On Health Plans Under Obamacare," The Washington Post , 9/29/15)

Clinton "Offered No Details" On How To Pay For Her Estimated $75 Billion Childhood Education Plan. "Beyond that, she offered no details, nor did her campaign offer a cost estimate. A similar 2013 proposal from Mr. Obama was estimated at $75 billion over 10 years." (Laura Meckler, "Clinton Embraces Obama's Call For Expanded Public Preschool," The Wall Street Journal ," 6/15/15)

"It's Unclear" On Where The Money Will Come From To Pay For Clinton's Energy Plan, With Almost $20 Billion Unaccounted For. "The Clinton camp estimates that its proposal, which calls for installing 500 million solar panels across the U.S. by the end of her term, would cost about $60 billion over 10 years - money that would come from rolling back tax benefits for the oil and gas industry. But it's unclear where at least $20 billion of that money would come from." (Elena Schor, "The Holes In Hillary Clinton's Climate Plan,"Politico , 7/27/15)

Clinton Has Offered To "Specify Later" How She Will Pay For Her Profit-Sharing Tax Credit Plan, Estimated To Cost Up To $20 Billion Over A Decade. "The tax credit would last just two years and cost the government $10 billion to $20 billion over a decade, according to the campaign, which says those costs would be offset by closing 'loopholes' that Clinton will specify later. She is speaking Thursday afternoon in New Hampshire about the proposal." (Richard Rubin, "Hillary Clinton Dangles Tax Credit To Companies That Share Profits With Workers," Bloomberg , 7/16/15)

Clinton Has Provided No Information On How She Would Pay For Reinstituting And Expanding The New Markets Tax Credit. (Press Release, "Hillary Clinton's Plan To Break Free From The Tyranny Of Today's Earnings Report And Encourage Long-Term Growth," The Briefing, Accessed 11/11/15)


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