Harris, Trump Debate Tax Policies in 2024 Election

As the 2024 presidential election approaches, Vice President Kamala Harris and former President Donald Trump are intensifying their economic policy debates, particularly focusing on taxation. Trump advocates for tax cuts, including a 'no taxes on overtime' proposal aimed at benefiting working Americans, while critics argue this overlooks gig economy workers. Conversely, Harris proposes raising corporate tax rates and taxing the wealthy to generate revenue for government programs and address income inequality, although some fear these measures could hinder economic growth. Polls indicate that Trump currently has a slight edge in public perception regarding economic management. Both candidates are emphasizing their plans in the lead-up to their upcoming debate, aware that the election's outcome could reshape federal tax policy significantly. Analysts suggest that whichever candidate wins will have substantial implications for the economy, especially as parts of Trump's previous tax cuts are set to expire soon.