Vice President Harris is proposing a tax increase on the wealthiest Americans to help fund an expansion of the child tax credit, along with tax breaks for first-time home buyers and people starting small businesses.
The nonpartisan Committee for a Responsible Federal Budget estimates that Harris’ economic plan would add more than $3 trillion to the federal deficit over the next decade, while Trump’s plan would increase the debt by $7.5 trillion. Harris has defended her plan, arguing that economists who’ve reviewed it say it would strengthen America’s economy.
“My plan is about saying that when you invest in small businesses, you invest in the middle class, and you strengthen America’s economy,” Harris said. “Small businesses are part of the backbone of America’s economy.”