Robert Powell

Special for USA TODAY

The end is near. In the coming hours, Americans will have a better sense of how this year’s election might affect their pocketbooks. USA TODAY asked experts how election outcomes might affect them on a host of pocketbook issues. Here’s what we learned.

Minimum wage

Under President Hillary Clinton , the federal minimum of $7.25 per hour — unchanged since 2007 — would rise to $12 per hour over several years. That increase would have a mixed effect on low-wage and/or part-time workers, with some enjoying higher wages, while others might find themselves priced out of their jobs, according to an S&P Capital IQ report. According to Carmel Martin, executive VP for policy at the Center for American Progress Action Fund, one in four workers would see an average increase of $2,300 per year in wages, and minimum-wage workers would see an increase of $9,500 per year. The number of people living in poverty would fall by 4.5 million.

, the federal minimum of $7.25 per hour — unchanged since 2007 — would rise to $12 per hour over several years. That increase would have a mixed effect on low-wage and/or part-time workers, with some enjoying higher wages, while others might find themselves priced out of their jobs, according to an S&P Capital IQ report. According to Carmel Martin, executive VP for policy at the Center for American Progress Action Fund, one in four workers would see an average increase of $2,300 per year in wages, and minimum-wage workers would see an increase of $9,500 per year. The number of people living in poverty would fall by 4.5 million. Under President Donald Trump, the minimum wage might rise to $10 an hour, or the decision to raise minimum wages would be left to the states. In short, some workers — those in states that have raised or plan to raise the minimum wage — would see somewhat of a boost, while the rest would see little or no change in their standard of living.

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Taxes

Under President Clinton millionaires would pay more in taxes and the rest would pay about the same or less. Her plan would levy a 4% surtax on those with adjusted gross incomes above $5 million and set a 30% minimum tax on those with AGIs topping $1 million (the so-called Buffett Rule). In addition, estates worth $1 billion or more would face a 65% estate tax. On the other hand, anyone making less than $250,000 wouldn't see any tax increases, according to Bob Williams, senior fellow at the Urban-Brookings Tax Policy Center at the Urban Institute. And low- and middle-income households would get tax cuts thanks to expanded tax credits.

millionaires would pay more in taxes and the rest would pay about the same or less. Her plan would levy a 4% surtax on those with adjusted gross incomes above $5 million and set a 30% minimum tax on those with AGIs topping $1 million (the so-called Buffett Rule). In addition, estates worth $1 billion or more would face a 65% estate tax. On the other hand, anyone making less than $250,000 wouldn't see any tax increases, according to Bob Williams, senior fellow at the Urban-Brookings Tax Policy Center at the Urban Institute. And low- and middle-income households would get tax cuts thanks to expanded tax credits. President Trump would significantly reduce marginal tax rates, increase standard deduction amounts, repeal personal exemptions and cap itemized deductions, according to Williams. His proposal would cut taxes at all income levels, although the largest benefits, in dollar and percentage terms, would go to the richest households, according to the Tax Policy Center (TPC). According to TPC’s analysis of his tax plan, on average, households would see their tax bills go down. But some taxpayers, especially single parents, would see higher taxes.

would significantly reduce marginal tax rates, increase standard deduction amounts, repeal personal exemptions and cap itemized deductions, according to Williams. His proposal would cut taxes at all income levels, although the largest benefits, in dollar and percentage terms, would go to the richest households, according to the Tax Policy Center (TPC). According to TPC’s analysis of his tax plan, on average, households would see their tax bills go down. But some taxpayers, especially single parents, would see higher taxes. Your bottom line: To calculate the effect of either candidate on your own taxes, check out the Tax Policy Center's online calculator at http://tpc-election-calculator.urban.org/.

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Student loans

Under President Clinton , borrowers would never have to pay more than 10% of their incomes toward student debt, and all college debt would be forgiven after 20 years. In addition, Clinton wants to make state and community colleges tuition-free for families earning up to $125,000; that would save the average family $9,410 per year, or $37,640 over four years, according to Martin.

, borrowers would never have to pay more than 10% of their incomes toward student debt, and all college debt would be forgiven after 20 years. In addition, Clinton wants to make state and community colleges tuition-free for families earning up to $125,000; that would save the average family $9,410 per year, or $37,640 over four years, according to Martin. President Trump would cap repayments at 12.5% of a borrower’s income and if borrowers make repayments for 15 years, he would forgive the rest of the debt, according to Third Way. Trump does not offer a plan to make college affordable, according to Martin.

Paid family and medical leave

Under President Clinton , there would be guaranteed paid family and medical leave up to 12 weeks where workers get at least two-thirds of their wages, according to Third Way. This plan applies to applies to men and women whether they become parents through surrogates, pregnancy or adoption.

, there would be guaranteed paid family and medical leave up to 12 weeks where workers get at least two-thirds of their wages, according to Third Way. This plan applies to applies to men and women whether they become parents through surrogates, pregnancy or adoption. President Trump would guarantee six weeks of paid maternity leave, worth an average of $300 weekly. However, there’s no relief for adoptive parents, fathers or caregivers who might be taking care of other family members who are ill, Martin says.

Child care expenses

President Clinton would let families take their child care costs off their tax bills, to the tune of up to 10% of their incomes. Plus, she would double the child tax credit to a maximum of $2,000 for young children, according to Third Way.

would let families take their child care costs off their tax bills, to the tune of up to 10% of their incomes. Plus, she would double the child tax credit to a maximum of $2,000 for young children, according to Third Way. President Trump would let working parents deduct child care expenses for up to four children and elderly dependents. He would also establish dependent care savings accounts.

Social Security

Under President Clinton , high-income Americans would pay more of their income above the current Social Security earnings cap into Social Security. For 2017, the maximum taxable earnings amount is $127,200, but under Clinton that would rise toward $200,000. In addition, a President Clinton would seek to increase benefits for widows and potentially other high-needs retirees, fight attempts to privatize Social Security; oppose reducing annual cost-of-living adjustments; and oppose efforts to raise the retirement age, according to Third Way.

, high-income Americans would pay more of their income above the current Social Security earnings cap into Social Security. For 2017, the maximum taxable earnings amount is $127,200, but under Clinton that would rise toward $200,000. In addition, a President Clinton would seek to increase benefits for widows and potentially other high-needs retirees, fight attempts to privatize Social Security; oppose reducing annual cost-of-living adjustments; and oppose efforts to raise the retirement age, according to Third Way. For his part, a President Trump has proposed no cuts to benefits in Social Security right now, but he might revisit the issue at a later time, according to Third Way. Martin suggested that a proposed 13.5% across-the-board cut in federal spending would result in a cut to Social Security that would reduce the average monthly benefit by $182, from $1,360 in 2017 to $1,177.

Robert Powell is editor of Retirement Weekly, contributes regularly to USA TODAY, The Wall Street Journal and MarketWatch. Got questions about money? Email Bob at rpowell@allthingsretirement.com.