Harris, Trump Proposals to Add Trillions to National Debt: CRFB Analysis

Public policies proposed by Vice President Kamala Harris and former President Donald Trump would add trillions of dollars to the national debt, according to the Committee for a Responsible Federal Budget (CRFB). The budget watchdog analyzed the fiscal impacts behind the presidential candidates’ proposals, relying on a blend of campaign and candidate statements, previous budget outlooks, social media posts, and other wide-ranging reports. Under a central estimate, Harris’s policies could raise the national debt by $3.5 trillion over the next decade, including $500 billion in interest charges. Harris’s two top policy proposals are extending the Tax Cuts and Jobs Act (TCJA) for households earning less than $400,000 and expanding the Child Tax Credit and Earned Income Tax Credit. Both are projected to reduce revenues by $3 trillion and $1.4 trillion, respectively....