are promising to do as they vie for the nation’s highest office. Here’s where the candidates stand on top economic and personal finance issues., but whether a president can directly do so is less certain. Inflation, as measured by the consumer price index, has already slowed to 2.4%, well off its pandemic-fueled peak.Trump wants to place a 10% to 20% tariff on all foreign imports; up to 60% tariff on imports from China; and 100% to 200% imports on automobiles produced in Mexico.
Harris wants to increase the credit to $6,000 for children under the age of 1; $3,600 for children ages 2-5; and $3,000 for older children.An increase in federal tax incentives from $5,000 to $50,000. The deduction would be available to new businesses until they turn a profit. The incentive feeds into her goal of creating 25 million new small businesses in the next four years.
When it comes to health care, the candidates have been light on the details, although both candidates promise to protect Medicare. Here’s where they differ.Trump tried to repeal and replace the Affordable Care Act in his first term, but was unsuccessful. During the presidential debate on Sept. 10, he was asked if he would try again. In response, Trump said he had only “concepts” of a new plan.
As president, Harris would likely champion student loan relief and free community college. Trump would likely restrict or dismantle loan forgiveness and promote access to non-traditional degrees.Trump would likely not support broad student loan cancellation or strengthening other forgiveness plans that the Biden-Harris administration has championed.
Immigrants make up a large portion of the agricultural workforce. Without that labor, the food supply in the U.S. could tighten, which would drive up prices.since immigrants play a huge part in the creation of housing in the U.S. This could further worsen the nation’s affordable housing shortage.