Kamala Harris bats for $50,000 tax deduction for startups, $6,000 child tax credit – CNBC TV18

Kamala Harris bats for ,000 tax deduction for startups, ,000 child tax credit – CNBC TV18

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In a heated exchange during their debate today, September 11, Vice President Kamala Harris and Donald Trump sparred over their contrasting economic visions, each claiming their approach would best steer the U.S. economy forward.

Harris argued that mainstream economists favour her economic plan, which she said would foster growth, while Trump’s policies would shrink the economy.

Harris Touts Economic Relief for Middle Class

Democratic presidential nominee Kamala Harris launched into her economic agenda, positioning herself as the only candidate on stage committed to “lifting up the middle class and working people of America.”

Addressing one of her key electoral vulnerabilities—rising prices and costs that have strained U.S. households—Harris outlined her plans to expand the child tax credit, provide mortgage assistance to new homebuyers, and introduce a tax deduction for small businesses.

These measures, she argued, are designed to ease the financial burdens on working families and the middle class.

“The cost of housing is too expensive for far too many people we know,” Harris said, emphasising her commitment to tackling high living costs that continue to trouble American families. She also took the opportunity to criticise Trump’s proposed tariff policy, arguing that it would only exacerbate economic challenges for everyday Americans.

Defending Biden’s Economic Record

Harris also defended the current administration’s economic efforts, acknowledging the skepticism some voters have expressed toward President Joe Biden’s economic policies.

She blamed Trump for the current economic conditions, stating that she and Biden have been working to “clean up Donald Trump’s mess” since taking office. Harris’s comments were aimed at reassuring voters that her administration would be dedicated to economic policies that prioritize the middle class over the wealthy.

Harris’s assertions are backed by a recent Goldman Sachs analysis, which predicts that Trump’s proposed trade policies would slightly contract the U.S. economy by 2025. Conversely, Harris’s economic proposals are expected to result in modest growth as early as next year.

While Harris focused on her economic proposals, she didn’t shy away from attacking Trump’s approach, particularly his tariff policy, which she argued would hurt American consumers and businesses alike.

She criticised Trump’s tariff plan, describing it as a “sales tax” on goods that would ultimately be borne by American consumers.

Trump, maintaining a stone-faced demeanor, retorted, “I have no sales tax. That’s an incorrect statement. She knows that.”

One of Trump’s key proposals involves imposing tariffs of 10% to 20% on most imports, with a staggering 60% tariff on Chinese goods.

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