Impact of Trump and Harris' Campaign Promises on National Debt
Donald Trump's campaign promises would significantly increase the national debt compared to Kamala Harris', as analyzed by the Penn Wharton Budget Model. Both candidates' proposals involve giving money to individuals and businesses, which boosts economic growth but also raises the national debt. The key difference lies in Trump's plan to extend tax cuts while Harris aims to increase the corporate income tax.
Key Points
- Trump's proposals would raise the national debt by $5.8 trillion over 10 years
- Harris' proposals would cost $1.2 trillion over the same period
- Trump's plan involves extending tax cuts, while Harris aims to increase the corporate income tax to 28%
Pros
- Boosts economic growth by giving money to individuals and businesses
Cons
- Significantly increases the national debt