New findings show that the spending proposals from Vice President Kamala Harris and former President Donald Trump would both add to the national deficit.
As the 2024 presidential campaign heats up, Vice President Kamala Harris and former President Trump have laid out competing economic visions for the country. The presidential candidates are going head-to-head on a number of tax policy issues, including the expansion of a child tax credit and the elimination of taxes on tips. Both candidates' spending plans could ultimately add to the already massive national deficit and weigh on U.S.
Harris, the Democratic nominee, has proposed providing a $6,000 tax credit for parents of newborns. Families would receive the payment during their child's first year. She has also pitched bringing back the pandemic-era expanded child tax credit. The boosted payout, authorized by President Biden, offered an annual payment of $3,000 for every child aged 6 to 17 and $3,600 for every child under age 6 in 2021.
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