Trump Pledges Tax Cuts for Americans Abroad in Bid to Win Overseas Voters.

Republican presidential candidate Donald Trump has pledged to lower taxes on US citizens living abroad in a bid to gain support from overseas voters ahead of the Nov. 5 election to win a tough race against Democratic Vice President Kamala Harris. Both candidates have proposed tax cuts. Both Trump and Harris have made economic promises in recent weeks to woo voters. Presidential candidate Kamala Harris has said she will aim to pass a middle-class tax cut, while Trump has proposed cutting taxes on overtime wages. According to the Wall Street Journal, Trump said, "I support ending double taxation of Americans abroad." The United States has tax treaties with various countries that allow for tax reductions and exemptions. Americans living abroad do not owe US tax on the first $126,500 of earned income and can claim foreign tax credits to avoid double taxation. By 2022, about 4.4 million US citizens live abroad, with 2.8 million eligible to vote in their former US states. Americans living or traveling abroad must file income, estate, and gift tax returns and pay estimated taxes, just like U.S. residents, according to the IRS. Claiming the foreign tax credit can allow individuals to effectively reduce their US tax liability and avoid double taxation on the same income they earn internationally.