We heard a lot on Friday from both Kamala Harris and Donald Trump on what their plans are for the US economy.
Unsurprisingly, the economy - and especially costs of living - have been key concerns for American voters this election.
But how do their plans differ? Here is a quick breakdown on what each candidate is proposing:
Democratic nominee Harris:
- Harris has stated that her day-one priority would be to reduce food and housing costs for working families. She has planned on doing so by banning gouge-pricing on groceries, helping first-time home buyers and increasing the minimum wage
- She has vowed to raise taxes on big businesses and Americans making $400,000 (£305,000) a year, while raising the capital gains tax slightly to 28%. Harris has also promised to expand child tax credits for families and cut taxes for small businesses
- On trade, Harris has indicated she will have a targeted approach on taxing imports - like the current Biden-Harris tariffs on Chinese imports like electric vehicles
Republican nominee Trump:
- Trump has also tackled high costs of living, pledging to "end inflation and make America affordable again". Among his plans are increasing oil drilling, which he says will lower energy costs.
- He also promised to deport migrants, which he says will ease pressure on housing, and has vowed to remove taxes on tips and social security benefits for seniors
- He has proposed tax cuts worth trillions, including an extension of a tax cut he enacted in 2017 that mostly helped the wealthy. Trump says these taxes will be paid by higher tariffs on imports - a plan that economists have warned will add to the US ballooning deficit and that would push up prices for consumers
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Nigerian tribunal upholds $220m fine against Meta for violating consumer, data laws
16 minutes -
Burkina Faso grants mining lease to Russia’s Nordgold for gold project
30 minutes -
Gabon’s constitutional court confirms Nguema’s presidential win
43 minutes -
Two arrested in connection with murder in Oti Region
55 minutes -
Man found dead in stagnant water at Dzelukope
1 hour -
Man remanded over GH¢300,000 mobile money robbery
1 hour -
Businessman in court over defrauding Finnish retiree of GH¢204,115
2 hours -
Police in Keta destroy 24 bags of suspected cannabis
2 hours -
Police arrest suspect in Abuakwa murder case
2 hours -
Man City can’t ‘confuse’ season as success – Guardiola
2 hours -
T-bills auction: Government returns to oversubscription; interest rates ease again
2 hours -
Slot thanks Klopp moments after Liverpool win title
2 hours -
CANCHAM holds forum for members on 2025 Budget impact on businesses
2 hours -
MTN Ghana and Zoomlion partner to promote clean communities during Kwahu Easter festivities
3 hours -
MTN Stands in Worship 2025: A night heaven came down to the Grand Arena
3 hours