Factbox: Clinton's policies on economy, Islamic State, other issues
(Reuters) – Democratic presidential candidate Hillary Clinton has pledged to raise taxes on the wealthy, preserve the Dodd-Frank financial reform law and provide a path to citizenship for undocumented workers.
Here are the proposals the former secretary of state has made as part of her argument that she is best qualified to occupy the Oval Office. (For a Factbox on Republican opponent Donald Trump’s proposals, please see)
Clinton has said the rich, not the middle class, would see their taxes go up.
She supports billionaire investor Warren Buffett’s eponymous tax proposal calling for those making more than $1 million a year to pay an effective tax rate of 30 percent. Clinton has also called for an additional 4 percent tax on those making more than $5 million annually.
Clinton has pledged to raise the estate tax levied on property transferred from a deceased person to their heirs. She also supports a tiered inheritance tax structure, with a top rate of 65 percent on the wealthiest estates of more than $500 million for a single person or $1 billion for a couple.
Clinton has pledged to unveil a plan to rebuild U.S. infrastructure during her first 100 days, saying this would create new jobs.
She would use some of the revenue generated from her tax plan to pay for making community colleges tuition-free and ensuring students can graduate from public colleges and universities without incurring debt.
The Committee for a Responsible Federal Budget, a nonpartisan, nonprofit group that independently scored Clinton’s proposals in their totality, estimated her policies would cost $1.8 trillion over the next decade and would be offset by $1.6 trillion, mostly generated by taxing high earners. The group said the remaining $200 billion could be covered by $275 billion in corporate tax revenue the Clinton campaign has called for but not yet spelled out in sufficient detail for them to credit as an offset at this time.
Clinton has promised to propose broad legislation within her first 100 days in office to overhaul the immigration system and establish a process for undocumented workers to become citizens.
Clinton has said she will defend executive actions taken by Democratic President Barack Obama to defer deportations of children brought illegally to the United States and the parents of children who are citizens or legal residents. She has said if Congress does not pass comprehensive immigration reform, she will similarly use executive action to defer deportations in “sympathetic cases.”
A federal court has ruled that Obama did not have the authority to issue his executive orders on immigration, known as DACA and DAPA. The U.S. Supreme Court, currently short one member, split 4-to-4 on whether to hear the administration’s appeal, leaving the lower court’s ruling in place for the time being.
WALL STREET REGULATION
Clinton has promised to preserve the 2010 Dodd-Frank financial reform law enacted after the financial crisis, and to pursue further measures to toughen Wall Street regulations.
She has proposed a fee for large financial institutions based on their size and the level of risk they pose. She would also give regulators additional authority to force institutions that pose high risks to break apart or reorganize.
Clinton has also urged strengthening the Volcker Rule, which restricts proprietary trading by commercial banks. She has called for a new tax on high-frequency trading and for stricter oversight of hedge funds, private equity firms and other players in the so-called shadow-banking system.
She has promised stiffer policies on people who commit financial crimes, including an extension of the statute of limitations on such crimes and a requirement for bank executives to return bonuses if their institutions suffer major losses.
Changes to Dodd-Frank have stalled in the Republican-controlled Congress, and it is unclear whether Clinton could get congressional backing to strengthen the law, unless Democrats win control of one or both chambers in the Nov. 8 election.
Clinton has pledged to defeat Islamic State and has said the first step to fighting the militant group is to eliminate its strongholds in Iraq and Syria.
In a departure from the Obama administration, she supports the establishment of a no-fly zone over Syria and has called for an intensified air campaign by the U.S.-led coalition. Clinton has said she would send additional American special forces to help Arab and Kurdish forces already on the ground. She opposes sending additional U.S. ground troops to the region.
Clinton has said the United States and European allies must share intelligence more effectively in order to thwart potential attacks.
She has urged Silicon Valley companies to work with the government to track militant recruitment tactics on the internet.
Current and former Obama administration officials have told Reuters they believe Clinton would take a harder line on Russia than either Obama or Trump.
Clinton has said she believes Russian hackers are behind the breach of Democratic Party systems in an attempt to influence the U.S. presidential election.
Clinton has said Russia should play a role in fighting Islamic State in Syria, and her foreign policy adviser has said she would consider arming government forces in Ukraine, one of Russia’s neighbors, in a move to combat Russian “aggression in Europe.” Russia has backed ethnic Russian separatists in Ukraine.
Clinton was a key player in Obama’s “pivot” to Asia when she served as his secretary of state from 2009 to 2013.
Clinton has said she will “aggressively pursue trade cases and impose consequences” against China when it commits trade abuses.
She opposes granting China market-economy status, which China will be seeking when a World Trade Organization clause expires in December, and has said she would make sure a newly installed trade prosecutor would ensure that China is playing by the rules.
Clinton has said she would treat cyber attacks from countries such as Russia and China “like any other attack” and that the United States “will be ready with serious political, economic and military responses.”
(Compiled by Amanda Becker; Editing by Caren Bohan and Jonathan Oatis)