Federal Budget Analysis: Trump and Harris's Proposals Impact U.S. Economy
Federal Budget Implications of Trump and Harris
The latest analysis from the Committee for a Responsible Federal Budget examines the impact of Vice President Kamala Harris and former President Donald Trump on the federal budget. Both politicians propose various tax credits, tax deductions, and tax exemptions that could significantly influence the U.S. economy and federal debt.
Trump’s Proposals and Their Impact
Trump's fiscal policy plans may lead to a deficit that is twice as large as that estimated under Harris’s approach. With increasing national debt, the prospect of raising income tax could arise, drawing attention to the election year implications for U.S. politics.
Economic Analysis Overview
- Potential for increased U.S. debt
- Impact of proposed tax changes on the middle class
- Citizens may face higher costs despite tax breaks
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.