Trump’s economic plan would add $4 trillion more to U.S. debt than Harris’, nonpartisan report finds

BREAKING: Trump’s Economic Plan Would Add $4 Trillion More to U.S. Debt Than Harris’, Nonpartisan Report Finds

NOTE: A report from the nonpartisan nonprofit Committee for Responsible Federal Budget has concluded that Kamala Harris’ and Donald Trump’s economic plans would… pic.twitter.com/q0WrnwfCAk

— Simon Ateba (@simonateba) October 7, 2024

NOTE: A report from the nonpartisan nonprofit Committee for Responsible Federal Budget has concluded that Kamala Harris’ and Donald Trump’s economic plans would significantly increase U.S. debt. Trump’s plan is projected to add $7.5 trillion over the next decade, while Harris’ plan would increase the debt by $3.5 trillion. This means that Trump’s plan would add $4 trillion more to U.S. debt compared to Harris’ proposal.

NOTE: The biggest cost for both is extending the 2017 tax cuts, with Harris focusing on those earning under $400,000 and Trump extending it to all.

NOTE: Trump’s additional costly proposals include eliminating taxes on overtime and Social Security benefits, while Harris would expand the Child Tax Credit.

NOTE: Both candidates aim to generate revenue through taxes or tariffs, but neither plan fully covers the projected costs.

NOTE: The Committee for a Responsible Federal Budget is a nonpartisan, nonprofit organization dedicated to fiscal policy education and advocacy. It was founded in 1981 by former U.S. legislators Robert Giaimo and Henry Bellmon. The committee operates independently and is funded through donations from various foundations, including notable contributions from the Peter G. Peterson Foundation and the Laura and John Arnold Foundation. It is not part of the U.S. government.

NOTE: You can read their full analysis here: https://crfb.org/papers/fiscal-impact-harris-and-trump-campaign-plans