Donald Trump offers tax breaks to US citizens overseas but no specifics
Donald Trump is proposing to grant a key tax break to U.S. citizens living overseas
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Your support makes all the difference.Donald Trump is proposing to grant a key tax break to U.S. citizens living overseas, pitching the idea as an effort to court votes from potentially millions of Americans who could benefit.
The former president and Republican nominee made the the pledge in a video released by Republicans Overseas CEO Solomon Yue. Trump was expected to emphasize his idea Thursday during an appearance at the Economic Club of Detroit.
It’s the latest in a series of tax breaks Trump has targeted at specific constituencies. He’s also proposing to exempt tip income, overtime pay and Social Security benefits from income taxes.
Those three previous proposals are mostly aimed at working- and middle-class voters. But the bulk of Trump’s tax plan — reinstituting his 2017 tax overhaul and lowering the corporate income tax rate from 21% to 15% — remains tilted to corporations and the wealthiest Americans.
Trump’s promise concerns policies that can require Americans overseas to pay taxes in the country where they reside and to the U.S. government. The U.S. has bilateral agreements with some nations that ease the burden in some cases.
His campaign has not offered details of his proposal.
“You have to make sure that you are registered and you are going to vote, because I'm going to take very good care of you," Trump says in the video statement that Yue posted to his account on the social media platform X.
“Once and for all, I'm going to end double taxation on our overseas citizens,” Trump continued. “You've been wanting this for years, and nobody has listened to you. And you deserve it. And I'm going to do it. ... I'm going to get this done for you.”
The overseas tax breaks could also end up favoring some wealthy citizens, because it could open more opportunities for them to live abroad in low-tax countries and avoid U.S. taxes.
Yue praised Trump for his commitment.
“Republicans Overseas has been fighting for the rights of Americans abroad since its inception ten years ago,” Yue said in a statement. “We have spoken to many politicians over the years, and while they sympathized with the burden of double taxation, very few have been willing to act.”
The former president's embrace of U.S citizens living abroad comes after statements lumping those voters in with his unfounded accusations that Democrats plan to commit widespread fraud in the 2024 election.
“The Democrats are talking about how they’re working so hard to get millions of votes from Americans living overseas," Trump wrote on his Truth Social platform Sept. 23. "Actually, they are getting ready to CHEAT!”
He argued that efforts to make it easier for overseas citizens to vote would “dilute” the votes of military service members who Trump believes will favor him over Democratic nominee Kamala Harris.
“WATCH! Remember, IF YOU VOTE ILLEGALLY,” he threatened, “YOU’RE GOING TO JAIL.”