A central question in the final stretch of the election is if Vice President Kamala Harris’s proposals will cohere into an economic argument that can top former President Donald J. Trump’s.
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Vice President Kamala Harris and former President Donald J. Trump have many of the same stated goals for the economy, but it is on the methods for accomplishing those ends that they diverge sharply.
Vice President Kamala Harris has a plan for the economy: a glossy, 82-page booklet detailing proposals on housing, taxes and health care that her campaign handed out to supporters gathered at a campaign event in Pittsburgh this week.
Former President Donald J. Trump has nothing so detailed. The issues section of his campaign website is spare. He has coughed up a string of four- or five-word slogans promising tax cuts, some of which even his advisers cannot fully explain. He has toyed with a tariff as high as 20 percent on every good imported into the United States, promised to deport millions of immigrants to reduce the demand for housing and boasted that he can halve energy prices in a year.
Even with such an improvisational, loosely defined agenda, he is still leading Ms. Harris on the economy in polls, though his advantage is shrinking in some surveys. Many economists have warned that Mr. Trump’s promises, if turned into concrete policy, could slow growth, raise consumer prices and balloon the federal deficit.
But many voters find Mr. Trump’s punchy promises easy to grasp. His basic message of lower taxes, less regulation and less trade with other countries helped carry him to the White House once before. A majority of Americans fondly remember the economy in the first three years of his administration, before the pandemic and years of elevated inflation.
A central question in the final stretch of the presidential race is if Ms. Harris’s more detailed — but in many cases still not fully formed — stack of policy proposals will cohere into an economic argument that can top that.
To a remarkable degree in a deeply polarized country, Ms. Harris and Mr. Trump have many of the same stated goals for the economy. Lower costs. Reduce regulations. Cut taxes for the middle class. Incentivize corporations to build their products in the United States.
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Source: nytimes.com
