Trump: Clinton 'lost every Republican she ever had' with estate tax plan

Trump: Clinton 'lost every Republican she ever had' with estate tax plan

Donald TrumpDonald John TrumpFederal prosecutor speaks out, says Barr 'has brought shame' on Justice Dept. Former Pence aide: White House staffers discussed Trump refusing to leave office Progressive group buys domain name of Trump's No. 1 Supreme Court pick MORE says Hillary ClintonHillary Diane Rodham ClintonBloomberg rolls out M ad buy to boost Biden in Florida Hillicon Valley: Productivity, fatigue, cybersecurity emerge as top concerns amid pandemic | Facebook critics launch alternative oversight board | Google to temporarily bar election ads after polls close Trump pledges to make Juneteenth a federal holiday, designate KKK a terrorist group in pitch to Black voters MORE's proposal to "tax estates at 65%" will cost her the support of "every Republican" who considered voting for her.

The GOP presidential nominee tweeted Friday that "Hillary Clinton just lost every Republican she ever had, including Never Trump, all farmers & sm. biz, by saying she’ll tax estates at 65%."

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Clinton is only proposing to tax estates valued at more than $1 billion per couple at that rate.

Clinton has previously said that she would raise the estate-tax rate from 40 percent to 45 percent and lower the amount that's exempt from the tax from $10.9 million per couple to $7 million per couple.

On Thursday, the Democratic presidential nominee's campaign said in an updated fact sheet that Clinton "will go further than that for estates valued in the tens and hundreds of millions, with higher rates as values rise, up to a 65% rate on estates valued at over $1 billion per couple."

In contrast, Trump's tax plan calls for repealing the estate tax, which he calls the "death tax," though capital gains held until death over $10 million would be taxed. Republicans generally oppose the estate tax.

Trump's tweet isn't the first time his campaign has criticized Clinton's estate-tax proposal. The Trump campaign on Thursday called Clinton's proposal hypocritical because she has taken advantage of loopholes to "exempt her Chappaqua estate."

The Clinton campaign fired back at the Trump campaign's statement, saying that Clinton's taxes would increase under her proposals and criticizing Trump for refusing to release his tax returns.

The conservative-leaning Tax Foundation estimated that only about seven estates would be subject to the 65 percent tax in the proposal's first year of enactment, and that the tax would raise about $600 million in its first year.