Economic Policy Proposals Compared

Disclaimer: All sources are pulled directly from the party’s websites as of today, 09/15/2024. I am not expressing any political viewpoint; I am pointing out the summaries of the two candidates’ economic policies. We will focus on taxes, inflation, housing, and health care. Ultimately, it is we, the people, who will decide the future of America, so please go out and vote.

All sources are pulled directly from the party’s websites as of today, 09/15/2024.

Kamala Harris Source: kamalaharris.com/issues/

Donald Trump Source: https://rncplatform.donaldjtrump.com/?_gl=1*12iwg01*_gcl_au*NjEwNDc4ODU0LjE3MjY0MjM1NjI.&_ga=2.132427725.210028977.1726423563-966717569.1726423563

#1 Taxes

Harris: Cut Taxes for Middle-Class Families

New Born Child $6000 tax cut.

Under her plan, the tax rate on long-term capital gains for those earning a million dollars a year or more will be 28 percent, because when the government encourages investment, it leads to broad-based economic growth and creates jobs, which makes our economy stronger.

She will expand the startup expense tax deduction for new businesses from $5,000 to $50,000 and tackle the everyday obstacles and red tape that can make it harder to grow a small business.

Trump: Make Trump Tax Cuts Permanent and No Tax on Tips

Republicans will make permanent the provisions of the Trump Tax Cuts and Jobs Act that doubled the standard deduction, expanded the Child Tax Credit, and spurred Economic Growth for all Americans. We will eliminate Taxes on Tips for millions of Restaurant and Hospitality Workers, and pursue additional Tax Cuts.

#2 Inflation

Harris: As President, she will direct her Administration to crack down on anti-competitive practices that let big corporations jack up prices and undermine the competition that allows all businesses to thrive while keeping prices low for consumers. She will go after bad actors who exploit an emergency to rip off consumers by calling for the first-ever federal ban on corporate price gouging on food and groceries, which will build on the anti-price gouging statutes already in place in 37 states.

Trump: Lower Everyday Costs

Republicans will reduce the Regulatory burden, lower Energy costs, and promote Economic Policies that drive down the cost of living and prices for everyday goods and services.

Common Sense tells us clearly that we must unleash American Energy if we want to destroy Inflation and rapidly bring down prices, build the Greatest Economy in History, revive our Defense Industrial Base, fuel Emerging Industries, and establish the United States as the Manufacturing Superpower of the World. We will DRILL, BABY, DRILL and we will become Energy Independent, and even Dominant again. The United States has more liquid gold under our feet than any other Nation, and it’s not even close. The Republican Party will harness that potential to power our future.

#3 Housing

Harris: Harris will provide first-time homebuyers with up to $25,000 to help with their down payments, with more generous support for first-generation homeowners.

Trump: Housing Affordability

To help new home buyers, Republicans will reduce mortgage rates by slashing Inflation, open limited portions of Federal Lands to allow for new home construction, promote homeownership through Tax Incentives and support for first-time buyers, and cut unnecessary Regulations that raise housing costs.

#4 Healthcare

Harris: She’ll build on the Biden-Harris Administration’s successes in bringing down the cost of lifesaving prescription drugs for Medicare beneficiaries by extending the $35 cap on insulin and $2,000 cap on out-of-pocket spending for seniors to all Americans. Her tie-breaking vote on the Inflation Reduction Act gave Medicare the power to go toe to toe with Big Pharma and negotiate lower drug prices.

Trump: Affordable Healthcare

Healthcare and prescription drug costs are out of control. Republicans will increase Transparency, promote Choice and Competition, and expand access to new Affordable Healthcare and prescription drug options. We will protect Medicare, and ensure Seniors receive the care they need without being burdened by excessive costs.