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Trump's Economic Plan to Increase U.S. Debt by $7.5 Trillion, $4 Trillion More Than Harris's Proposal

Oct 7, 2024, 12:27 PM

A new analysis from the nonpartisan Committee for a Responsible Federal Budget (CRFB) has found that the economic plans proposed by Donald Trump and Kamala Harris would both significantly increase the U.S. national debt. According to the report, Trump's policies, which include tax cuts and import tariffs, would add $7.5 trillion to the federal debt over the next decade, $4 trillion more than Harris's proposals, which would increase the debt by $3.5 trillion. The analysis highlights that Trump's plan would raise the debt by twice as much as Harris's plan. The CRFB's estimates suggest that under a high-end scenario, Trump's policies could increase the debt by as much as $15.2 trillion, while Harris's could add up to $8.1 trillion. These projections are for the period through 2035.