Harris vs. Trump on the economy: Comparing their policies
Sorry, a summary is not available for this article at this time. Please try again later.Social Security, Medicare and the retirement ageQ: Do you support raising the retirement age? What should the retirement age be? What, if anything, needs to be done to control the costs of entitlements such as Social Security and Medicare?A: Harris wants to strengthen Social Security and Medicare, according to her campaign, but she has yet to release detailed policy proposals. She has taken the Biden administration stance on Social Security, supporting a measure to reinstate the payroll tax on earned income above $400,000. She has also said she would as president allow Medicare to accelerate negotiations on prescription drug prices, which are part of the administration’s existing efforts to lower drug costs. In 2019, she co-sponsored a bill to expand Social Security by extending the payroll tax. She proposed a Medicare-for-All plan during her 2020 presidential bid, but she is not pursuing such a policy now. A: Trump has promised to protect Social Security and Medicare, which are the biggest drivers of the national debt. “Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security,” Trump said in a January 2023 video message distributed by his campaign. The national debt increased by $7.8 trillion during Trump’s presidency, the third-biggest increase relative to the U.S. economy’s size, ProPublica reported.Tax policyQ: What should the top federal personal income tax rate be and at what income level should it hit? What should the top corporate tax rate be?A: Harris wants to raise taxes on corporations and the highest earners, following Biden’s budget. But she broke with Biden on raising the capital gains tax rate, saying she supports a rate of 28 percent, compared with 44.6 percent for Biden, for those earning more than $1 million (the current rate is 23.6 percent). She also proposed expanding tax deductions for small businesses. She backs increasing the corporate tax rate to 28 percent from 21 percent and has promised not to raise taxes on people making less than $400,000 per year. She wants to restore and expand the earned income tax credit and the child tax credit, including a $6,000 child tax credit for the first year of a newborn's life. A: The 2017 Trump tax law lowered the top personal tax rate rate from 39.6 percent to 37 percent and the top corporate tax rate from 35 percent to 21 percent.Student loansQ: Should anything be done by the federal government to defray the costs of student loans?A: Harris backs the Biden administration’s student-loan forgiveness plan for tens of millions of borrowers. She previously pledged that she and Biden would “do much more to build on” their debt forgiveness policies. She has not elaborated on what her policies would be if elected. A: Trump has opposed widespread student loan debt cancelation but backed measures to consolidate income-driven repayment plans.Defense spendingQ: Do you support cutting the defense budget from its current levels?A: The Biden-Harris administration has proposed an $849.8 billion defense budget for fiscal year 2025, which represents a 4.1 percent increase from fiscal 2023 levels that were enacted, according to the Brookings Institute.A: As president in 2018, Trump signed the largest Pentagon budget ever at $700 billion, a 15.5 percent increase from the previous year There’s no public evidence he would support a decrease in military spending even as he has called for deep cuts to domestic outlays because the government is “spending money like drunken sailors.” Investing in infrastructureQ: Do you support continued public investment in American infrastructure such as was covered under the Bipartisan Infrastructure Law of 2021?A: Harris touted the Bipartisan Infrastructure Act as vice president and has spoken about her support for investment in infrastructure, from bridges to high-speed internet.A: Trump campaigned on major infrastructure spending multiple times during in 2016. However, negotiations with congressional Democrats broke down while he was in office and he was never able to sign a bill that matches the scale of the Bipartisan Infrastructure Law passed under President Biden.Environmental, social and governance investingQ: Do you support a ban on ESG (environmental, social and governance investing) for retirement funds?A: Trump’s administration took several actions to limit ESGs while he was president.About this projectWe collected the positions of the 2024 presidential candidates on abortion, climate, crime and guns, the economy, education, elections, foreign policy and immigration. We used a variety of sources for our reporting, including publicly available information, campaign websites, voting records, news articles and the campaigns themselves. Feedback? Email us at policypages@washpost.com.Candidate illustrations by Ben Kirchner for The Washington Post. Icons by Tim Boelaars for The Washington Post. Editing by Rachel Van Dongen, Candace Mitchell and Megan Griffith-Greene. Design and development by Agnes Lee, Jake Crump and Tyler Remmel. Design editing by Madison Walls and Virginia Singarayar.
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Social Security, Medicare and the retirement age
Q: Do you support raising the retirement age? What should the retirement age be? What, if anything, needs to be done to control the costs of entitlements such as Social Security and Medicare?
A: Harris wants to strengthen Social Security and Medicare, according to her campaign, but she has yet to release detailed policy proposals. She has taken the Biden administration stance on Social Security, supporting a measure to reinstate the payroll tax on earned income above $400,000. She has also said she would as president allow Medicare to accelerate negotiations on prescription drug prices, which are part of the administration’s existing efforts to lower drug costs. In 2019, she co-sponsored a bill to expand Social Security by extending the payroll tax. She proposed a Medicare-for-All plan during her 2020 presidential bid, but she is not pursuing such a policy now.
A: Trump has promised to protect Social Security and Medicare, which are the biggest drivers of the national debt. “Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security,” Trump said in a January 2023 video message distributed by his campaign. The national debt increased by $7.8 trillion during Trump’s presidency, the third-biggest increase relative to the U.S. economy’s size, ProPublica reported.
Tax policy
Q: What should the top federal personal income tax rate be and at what income level should it hit? What should the top corporate tax rate be?
A: Harris wants to raise taxes on corporations and the highest earners, following Biden’s budget. But she broke with Biden on raising the capital gains tax rate, saying she supports a rate of 28 percent, compared with 44.6 percent for Biden, for those earning more than $1 million (the current rate is 23.6 percent). She also proposed expanding tax deductions for small businesses. She backs increasing the corporate tax rate to 28 percent from 21 percent and has promised not to raise taxes on people making less than $400,000 per year. She wants to restore and expand the earned income tax credit and the child tax credit, including a $6,000 child tax credit for the first year of a newborn's life.
A: The 2017 Trump tax law lowered the top personal tax rate rate from 39.6 percent to 37 percent and the top corporate tax rate from 35 percent to 21 percent.
Student loans
Q: Should anything be done by the federal government to defray the costs of student loans?
A: Harris backs the Biden administration’s student-loan forgiveness plan for tens of millions of borrowers. She previously pledged that she and Biden would “do much more to build on” their debt forgiveness policies. She has not elaborated on what her policies would be if elected.
A: Trump has opposed widespread student loan debt cancelation but backed measures to consolidate income-driven repayment plans.
Defense spending
Q: Do you support cutting the defense budget from its current levels?
A: The Biden-Harris administration has proposed an $849.8 billion defense budget for fiscal year 2025, which represents a 4.1 percent increase from fiscal 2023 levels that were enacted, according to the Brookings Institute.
A: As president in 2018, Trump signed the largest Pentagon budget ever at $700 billion, a 15.5 percent increase from the previous year There’s no public evidence he would support a decrease in military spending even as he has called for deep cuts to domestic outlays because the government is “spending money like drunken sailors.”
Investing in infrastructure
Q: Do you support continued public investment in American infrastructure such as was covered under the Bipartisan Infrastructure Law of 2021?
A: Harris touted the Bipartisan Infrastructure Act as vice president and has spoken about her support for investment in infrastructure, from bridges to high-speed internet.
A: Trump campaigned on major infrastructure spending multiple times during in 2016. However, negotiations with congressional Democrats broke down while he was in office and he was never able to sign a bill that matches the scale of the Bipartisan Infrastructure Law passed under President Biden.
Environmental, social and governance investing
Q: Do you support a ban on ESG (environmental, social and governance investing) for retirement funds?
A: Trump’s administration took several actions to limit ESGs while he was president.
About this project
We collected the positions of the 2024 presidential candidates on abortion, climate, crime and guns, the economy, education, elections, foreign policy and immigration. We used a variety of sources for our reporting, including publicly available information, campaign websites, voting records, news articles and the campaigns themselves. Feedback? Email us at policypages@washpost.com.
Candidate illustrations by Ben Kirchner for The Washington Post. Icons by Tim Boelaars for The Washington Post. Editing by Rachel Van Dongen, Candace Mitchell and Megan Griffith-Greene. Design and development by Agnes Lee, Jake Crump and Tyler Remmel. Design editing by Madison Walls and Virginia Singarayar.