U.S. economy under Trump, Harris

Donald Trump and Kamala Harris offer strikingly different visions of the economy they’d seek to build after winning the presidency, according to calculations by the Washington-based Tax Foundation


Donald Trump: Slap levies on foreign goods entering U.S. – 60% tariff on goods from China, tariffs of up to 20% on all other U.S.imports.
Cut federal corporate tax rate from 21% to 15%
  
Kamala Harris: Homebuyers have access to new public cash, with support worth up to $25,000 for down payments. Boost child tax credit from $2,000 to $3,600 per eligible child, $6,000 credit for newborns
     
Tax Foundation: Trump tariffs will reduce long-term GDP by 0.2%, corporation capital stock by 0.1%, employment by 142,000 jobs, and add an average tax increase of $625 per year on U.S. households


U.S. mortgage payment to income ratio (%)

Jan 20, 2017- Jan 20, 2021: Presidency of Donald Trump

2018-19: First Trump administration imposes nearly $80 billion worth of new taxes on Americans by levying tariffs on products valued at approximately $380 billion – one of largest tax increases in decades

35							Oct: 33.5
30 						Jun: 31.4	Jul 31, 2024: 31.6%
25 
20 	Jun: 19.4 Jan: 18.1 Jun: 21.4 Jun: 21.3
15 
10
5 
0
	2015 2016 2017 2018 2019 2020 2021 2022 2023 2024


Sources: Associated Press, Bloomberg, Tax Foundation 
Pictures: Getty Images 
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