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The Clinton Standard

- October 6, 2015

Clinton Said Her Rivals Must Specify How They'll Pay For Their Programs, But She's Calling For Hundreds Of Billions In New Spending With Insufficient Details On How She'll Pay For It

Yesterday, At A Campaign Event In Iowa, Clinton Claimed "Everything That I Am Proposing I Have A Way To Pay For It," And Called On Her Rival Candidates To Specifically Layout How They Are Going To Pay For Their Policy Proposals Saying "You Got A Proposal, Tell Us How You Are Going To Pay For It." CLINTON: "I want to be a smart investor in what will make us richer but I also want to pay for what we do. So everything that I am proposing I have a way to pay for it. It's raising taxes on the wealthy, it's closing loopholes, it's doing what I believe we should do so that when I tell you 'here's my plan' I will tell you how I want to pay for it. Because my goal is to try to get us back in a much more fiscally balanced position. I mean we got a long way to go because of everything that was done by the Bush administration. Under President Obama the deficit has come down but the debt is still up and so we got work to do. So I'm going to tell you what I will do and I will tell you how I will pay for it. And you should ask that of everybody. Anybody who tells you that you can fix government by just cutting programs and that will make us richer. They're just delusional. That does not work. It does not work in life and it does not work in the government. And therefore we need to hold everybody accountable to the same standards. You got a proposal, tell us how you are going to pay for it. That's the way to try to get the political system to pay attention to what is going to make sense and add up." (Hillary Clinton, Remarks At Davenport Iowa, Davenport, IA, 10/6/15)

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IT "ISN'T CLEAR YET" WHAT EXACTLY CLINTON WILL DO TO COVER THE COST OF HER "STAGGERING" $350 BILLION COLLEGE EDUCATION PLAN

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)

"It Isn't Clear Yet" Who Would Face New Taxes, What Deductions And Loopholes She Would Close, Or How Much Money Would Be Raised. "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)

  • Even On Background, Clinton's Aides Will Only Say It "Is A Version Of A Similar Plan That President Obama" Proposed Without Giving Any Details Or How Her Proposal Would Differ. "But a campaign aide told CNNMoney that the plan to 'limit certain high-income tax expenditures ... is a version of a similar plan that President Obama has included in several of his recent budgets.'" (Jeanne Sahadi, "Who Will Pay For Hillary Clinton's College Plan," CNN, 8/10/15)

CLINTON'S HAS PASSED THE BURDEN ONTO CONGRESS FOR HER REPEAL OF THE CADILLAC TAX - ESTIMATED LOSS OF REVENUE $87 BILLION DOLLARS

Clinton Has Called For The Repeal Of The 'Cadillac Tax' Created By The Affordable Care Act. "U.S. Democratic presidential candidate Hillary Clinton called on Tuesday for the repeal of the "Cadillac tax" on premium health insurance plans that was created under President Barack Obama's sweeping healthcare law." (John Whitesides, "Clinton Calls For Repeal Of 'Cadillac Tax' On Healthcare Plans," Reuters, 9/29/15)

  • Clinton's Campaign Estimates The Repeal Of The Tax Will Costs $87 Billion In Lost Revenue. "Clinton's campaign said the estimated $87 billion in lost revenue from repeal of the Cadillac Tax would be offset by her reform plans released last week." (John Whitesides, "Clinton Calls For Repeal Of 'Cadillac Tax' On Healthcare Plans," Reuters, 9/29/15)

Clinton 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 HAS "OFFERED NO DETAILS" ON HOW SHE WOULD PAY FOR HER EARLY CHILDHOOD EDUCATION PLAN - AT LEAST $75 BILLION OVER TEN YEARS

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 "Offered No Details, Nor Did Her Campaign Offer A Cost Estimate." "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 WHERE AT LEAST $20 BILLION" FOR CLINTON'S $60 BILLION ENERGY PLAN WOULD COME FROM

Clinton's Spokesman Said Clinton's 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 Once Again Offered These Massive Projects Without Any Plan To Pay For Them. "Mrs. Clinton did not detail how, exactly, she would pay for her clean-energy proposals. She said she would offer more specifics in the future and that some of these initiatives would pay for themselves." (Colleen McCain Nelson, "Hillary Clinton Sidesteps Keystone In Climate Plan Rollout,"The Wall Street Journal, 7/27/15)

"It's Unclear" On Where The Money Will Come From To Pay For Her 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 SAYS SHE WILL "SPECIFY LATER" HOW SHE WILL PAY FOR $10 TO $20 BILLION PROFIT-SHARING TAX-CREDIT PLAN

The Proposed Tax Credit 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 Has Offered To "Specify Later" How She Will Pay For The Profit-Sharing Plan. "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'S CAMPAIGN HAS ADMITTED FUNDING PROPOSALS "MAY NOT BE SUFFICIENT" FOR HER DRUG TREATMENT AND PREVENTION PLAN - $10 BILLION OVER TEN YEARS

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's Campaign Has Admitted Funding Proposals "May Not Be Sufficient" To Cover The Entire Cost Of Her Plan. "Mrs. Clinton says she would pay for the program by directing that the attorney general issue guidance to prioritize treatment over incarceration for nonviolent, low-level federal drug offenders. The savings would contribute to paying for the new grant programs, but may not be sufficient, the campaign said. The campaign did not identify any other possible ways to pay for the new spending." (Laura Meckler, "Hillary Clinton Proposes $10 Billion Plan To Combat Drug Addiction," The Wall Street Journal's Washington Wire , 9/2/15)

CLINTON'S CAMPAIGN CITED TAX INCREASES AS A WAY TO PAY FOR HER $1 BILLION ANNUALLY, $10 BILLION OVER TEN YEARS HIRING CREDIT PLAN, BUT "HAVEN'T DETAILED THEM YET"

Clinton Will Offer Businesses A Tax Credit Of $1500 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. "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 Politics , 7/13/15)

Clinton's Campaign Has Offered The Usual Ambiguous Tax Increases As A Way To Pay For The 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)


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