Democratic presidential candidate Hillary Clinton will call for taxing more estates -- and raising the rate at which they’re taxed, a campaign aide said Tuesday.
Clinton’s plan would mean taxing individuals’ estates worth more than $3.5 million, down from $5.45 million currently. She also wants to raise the rate to 45 percent, from 40 percent today. Both moves would be a return to the way the tax operated in 2009. President Obama and other Democrats have proposed similar adjustments.
The proposals would affect four out of every 1,000 estates in the country and would also crack down on loopholes, including methods people use to make their estates appear to be worth less than they are, said the aide, who asked not to be named.
Clinton has been rolling out tax proposals for months. She turned her attention this week to wealthy individuals. On Monday, she said she wants to create a 4 percent “fair share surcharge" that would apply to incomes over $5 million.