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WHERE HARRIS AND TRUMP DIFFER ON THE BIG ECONOMIC ISSUES
Harris: Supports the Biden plan to allow all tax cuts to expire except for households earning less than $400,000
THE 2017 TAX CUTS FOR INDIVIDUALS, WHICH EXPIRE AT THE END OF 2025
Trump: Extend or make permanent all the 2017 tax cuts
Harris: Raise the corporate tax rate from 21% to 28%
CORPORATE
TAXES
Trump: Lower the corporate tax rate from 21% to as low as 15%
Harris: Eliminate federal income tax on tips; impose new tax on wealth above $100 million
OTHER
TAXES
Trump: Eliminate federal income tax on tips and on Social Security income
Harris: Continue to restrict high-technology exports to China and sustain 100% tariffs on Chinese electric vehicles
TRADE
Trump: Impose a 10% to 20% tariff on most imports and a 60% tariff on imports from China
Harris: A new $6,000 tax credit for families with newborns; expand the child tax credit by up to $3,600 per child
CHILD
CARE
Trump: May propose an expansion of the child tax credit
Harris: Support all green-energy measures Biden has enacted; possibly ease targets for electric vehicle adoption and green electricity production
GREEN
ENERGY
Trump: Kill or reduce electric-vehicle subsidies Biden signed into law in 2022. Produce more fossil fuels
Harris: Extend or make permanent temporary subsidies for higher-income Americans to buy insurance through the Affordable Care Act; forgive some medical debt
HEALTHCARE
Trump: Repeal Affordable Care Act or reduce subsidies
Harris: Continue executive action to limit asylum claims at the border, pass immigration reform legislation
IMMIGRATION
Trump: Build a border wall and return to the strict anti-immigrant policies of the first Trump term; deport millions of undocumented migrants
Harris: Enact a $25,000 subsidy for first-time home buyers; establish incentives and reforms to help build 3 million additional homes
HOUSING
Trump: Pressure the Federal Reserve to keep interest rates low, ease regulations, open federal land to development
Harris: Defend a 2022 law requiring Medicare to negotiate the prices of certain drugs with manufacturers
DRUG
PRICES
Trump: Unclear, but possibly soften Medicare price negotiations with manufacturers
Harris: Continue military aid to Ukraine
RUSSIA'S WAR
IN UKRAINE
Trump: Seek a settlement with Russia and end or restrict US military aid to Ukraine
Harris: Raise from $7.25 per hour to as high as $15
FEDERAL
MINIMUM WAGE
Trump: No change
Harris: Continue Biden's efforts to forgive student debt
STUDENT
DEBT
Trump: No forgiveness
Harris: $2 trillion increase
10-YEAR EFFECT ON THE NATIONAL DEBT*
Trump: $4.1 trillion increase
*NATIONAL DEBT ESTIMATES ARE FROM THE PENN WHARTON BUDGET MODEL AND ASSUME EACH CANDIDATE'S PLANS ARE ENACTED IN FULL.
Above is from: https://finance.yahoo.com/news/why-kamala-harriss-approach-to-capital-gains-is-generating-so-much-controversy-112935244.html
