• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

2

Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline

3

Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing

1

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

2

Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline

3

Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
PoliticsPolitics

Trump is now promising tax breaks to Americans overseas

By
Bill Barrow
Bill Barrow
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Bill Barrow
Bill Barrow
and
The Associated Press
The Associated Press
Down Arrow Button Icon
October 10, 2024, 1:53 PM ET
Republican presidential nominee former President Donald Trump dances at a campaign rally at the Santander Arena, Wednesday, Oct. 9, 2024, in Reading, Pa.
Republican presidential nominee former President Donald Trump dances at a campaign rally at the Santander Arena, Wednesday, Oct. 9, 2024, in Reading, Pa.(AP Photo/Alex Brandon)
Add Fortune on Google for similar content.

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.

Recommended Video

The former president and Republican nominee made 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.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Bill Barrow
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Politics

pete
North AmericaDEI
Scouting America cuts LGBTQ+ spaces at jamboree under Pentagon pressure
By Jamie Stengle and The Associated PressJuly 31, 2026
2 hours ago
israel
North AmericaIsrael
Most Jewish Americans under 45 get the ick from Israel, polling shows
By Giovanna Dell'Orto and The Associated PressJuly 31, 2026
2 hours ago
oz
PoliticsMedicare
Trump’s gift for 25 million seniors right before midterms: Medicare drug cost hikes
By Ali Swenson and The Associated PressJuly 31, 2026
2 hours ago
u
AIcyber
Brussels responds to explosion of AI risks with a new team of 38 bureaucrats
By Sam McNeil and The Associated PressJuly 31, 2026
2 hours ago
jesus
EconomyReligion
‘Jesus was a socialist’: some Democrats bid to make their populist movement a religious left moment
By Krysta Fauria and The Associated PressJuly 31, 2026
3 hours ago
mamdani
BankingElections
Democrats squirm as ‘defund the police’ stances from 2020 come back to haunt them
By Matt Brown, Anthony Izaguirre, Scott Bauer and The Associated PressJuly 31, 2026
3 hours ago

Most Popular

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
Success
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
By Preston ForeJuly 29, 2026
2 days ago
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
Retail
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
By Sydney LakeJuly 29, 2026
2 days ago
Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
Big Tech
Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
By Alexei OreskovicJuly 30, 2026
15 hours ago
'Am I paying for the vibes?' Gen Z says it hates capitalism, but their spending patterns show they just don't like being ripped off
Retail
'Am I paying for the vibes?' Gen Z says it hates capitalism, but their spending patterns show they just don't like being ripped off
By Nick LichtenbergJuly 30, 2026
1 day ago
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
Retail
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
By Tatiana SatauaJuly 31, 2026
8 hours ago
Current price of oil as of July 30, 2026
Personal Finance
Current price of oil as of July 30, 2026
By Joseph HostetlerJuly 30, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.