Both nominees in the Texas race for U.S. Senate have released plans they say would make life more affordable, setting out different approaches ahead of the Nov. 3 general election.
Ken Paxton, the Republican nominee and the state's attorney general, released his plan first. James Talarico, the Democratic nominee and a state representative, followed with his own.
The race
The seat is the one held by Republican John Cornyn. Paxton defeated Cornyn in a May 26 runoff with 63.8 percent of the vote after President Donald Trump endorsed him. Talarico won the Democratic primary with 52.4 percent over U.S. Rep. Jasmine Crockett.
Five other candidates are also on the general election ballot.
What Paxton proposes
Paxton calls his plan Protecting the Texas Promise. It is built on federal tax deductions.
It would create a $25,000 deduction for out-of-pocket medical expenses and health insurance premiums, with an additional $25,000 deduction per dependent. It would add a $50,000 deduction for first-time homebuyers and a $50,000 down payment deduction for people moving to a new primary residence.
A separate $5,000 deduction would cover what the plan calls healthy-lifestyle spending, including gym memberships, nutrition plans, youth sports and GLP-1 medications.
The plan would also double the federal child tax credit to $4,400 per child under 17 and make permanent the tax-deferred investment accounts for children known as Trump Accounts.
"Obviously, medical expenses have gone up, and they've gotten out of control, and so we need to help Texans with those," Paxton said.
Asked how the deductions would be paid for, Paxton said, "often, if people are able to keep more of their money, they spend it and it runs through the economy."
What Talarico proposes
Talarico calls his plan the New American Dream. It works through wages, debt and repealing existing tax provisions rather than through new deductions.
