Here’s what we know so far about Kamala Harris’ and Donald Trump’s economic plans:
Eliminate taxes on tips: Both Trump and Harris have called for ending federal taxes on tips – though Trump unveiled the idea first and has blasted his rival for copying him.
End taxes on Social Security benefits: Trump has also offered tax relief to another influential voting bloc – senior citizens. He announced late last month that he wants to end taxes on Social Security benefits.
Add more tariffs: Trump is calling for more tariffs if he returns to the White House. While Harris has not talked about her trade plans specifically, the Biden-Harris administration kept a lot of Trump-era tariffs in place and has increased some of those duties.
Tackle expiring tax cuts: Trump and Harris have differing views on how to handle the expiration of more than $3.4 trillion in individual tax cuts next year.
The former president has said that one of his main goals would be extending the sweeping array of tax cuts in the 2017 Tax Cuts and Jobs Act, one of the signature achievements of his first term.
Harris, on the other hand, told Politico last month that she will continue President Joe Biden’s pledge not to raise taxes on anyone making under $400,000 a year.
Cut prices: Both Harris and Trump have put a focus on addressing the prices of groceries and other everyday items for Americans.
Expand affordable housing: Harris is set to announce Friday a three-section plan to address the nation’s lack of affordable housing. Part of the package builds on proposals that Biden has already unveiled.
Harris would also seek to repurpose some federal land for affordable housing, similar to proposals floated by Biden and Trump.
