The Associated Press has released its list of the most vulnerable states, and the Republican presidential nominee is right in his assertion that tax cuts are good for the economy.
Here’s what to watch in 2020.
South Carolina: The Tar Heel State has seen a steep drop in its unemployment rate in recent months and its economy has been growing steadily.
Trump has said he wants to bring back jobs and expand the state’s tourism industry, but he is now targeting the state as a tax cut target.
Trump says South Carolina will pay for his tax cuts by eliminating the state sales tax and imposing a 15 percent excise tax on gasoline.
That will bring in more than $50 billion a year.
Virginia: In an interview with The Wall Street Journal, Trump has talked about reducing taxes on the rich, which he says will boost the economy, and said that he is “very happy” about a potential cut in the state estate tax.
That could create millions of dollars in revenue for the state.
But the Republican nominee said he has “no interest in eliminating the estate tax” and that he wants the state to continue paying for his plans.
He says his tax plan would only add $2.4 billion to the state budget, not $3 billion.
North Carolina: Despite Trump’s claim that his tax cut will help the middle class, North Carolina has one of the highest tax rates in the nation.
In 2019, the state was expected to spend about $1.5 billion more than it received in revenue from the estate and income tax.
The Republican nominee has said that his plan will raise more than half of the state revenue from cutting taxes and is aiming to reduce the tax burden on the wealthy.
Maine: In the fall of 2019, Republican candidate Donald Trump said that Maine will be the first state to implement his tax-cut plan.
The GOP candidate said that because the tax plan does not impose a 20 percent excise, the estate, or a state sales or excise tax, the plan will help to raise $1 trillion in revenue over the next 10 years.
South Dakota: South Dakota has seen its unemployment and economic growth decline in recent years, and is considered a key swing state for the 2020 presidential election.
A recent report by the South Dakota Economic Development Corporation found that Trump’s plan would boost South Dakota’s economy by about 2.5 million jobs and create about $60 million in new tax revenue.
Tennessee: Trump has been touting the idea of a 15-percent excise tax as one of his top three tax cuts for the country, and he has promised to eliminate the state income tax if elected president.
The Tennessee Republican has said his plan would increase $2 billion in tax revenue over 10 years, but the plan does have a $100 million cap on the amount of money it could raise.
Mississippi: Trump is promising to raise up to $100 billion in new revenue from a 15% excise tax if he wins the election, and if he is elected president, the tax would only apply to the wealthiest 1 percent of earners.
Florida: Florida has seen little growth in its economy since the financial crisis and is one of four swing states that voted for Hillary Clinton.
The state’s unemployment rate has dropped by more than 15 percent over the last four years and its economic growth has been slow.
The Trump campaign has claimed that Florida’s economy is in the midst of a revival.
But a new analysis by the University of Florida shows that the unemployment rate dropped by about 5.6 percent from July 2017 to December 2017.
Pennsylvania: Trump says he wants Pennsylvania to pay for the tax cuts, but his plan has a cap on how much it can raise.
He has promised that the plan would raise $2 trillion over the coming decade.
Georgia: The Republican candidate has not released his tax plans, but Georgia has been one of Trump’s top tax cut targets.
In his first year in office, the Republican candidate said he was “very pleased” with his plan to reduce taxes on business owners, but has not detailed what his plan entails.
Pennsylvania has been hit hard by the recession, with the unemployment and GDP rate both falling by more that 8.5 percent since the economic downturn began.
The poverty rate in Georgia has also dropped significantly over the past three years, from 16.4 percent in 2015 to 13.3 percent in 2018.
Pennsylvania’s top Republican, State Rep. Scott Taylor, has been leading the charge to pass a tax plan.
On Wednesday, Taylor introduced a bill that would eliminate the estate income tax, eliminate the sales tax, and impose a 15 percentage tax on gas.
Michigan: Michigan is one state that has seen strong growth in recent decades.
Its unemployment rate fell from 10.1 percent in the fall 2017 to 8.7 percent in 2019, and its GDP has grown by more on average than any other state.
Michigan is also one of just three swing states in