Trump’s Plans Could Raise Costs for Most Americans

“Donald Trump’s economic proposals could inflame the nation’s debt burden while ultimately raising costs for a vast majority of Americans, according to a pair of new economic analyses that are among the most in-depth studies to date of the Republican nominee’s plans,” the New York Times reports.

“The Committee for a Responsible Federal Budget, a nonpartisan group that seeks lower deficits, found that Mr. Trump’s various plans could add as much as $15 trillion to the nation’s debt over a decade. That is nearly twice as much as the economic plans being proposed by Vice President Kamala Harris.”

“And an analysis from the Institute on Taxation and Economic Policy, a liberal think tank, found that Mr. Trump’s tax and tariff plans would, on average, amount to a tax increase for every income group except the top 5 percent of highest-earning Americans.”