Heres how much Trump and Harris are projected to add to the national debt, according to analysts

The economic proposals of former President Donald Trump and Vice President Kamala Harris are projected to add $7.5 trillion and $3.5 trillion to the national debt, respectively, according to a new nonpartisan analysis.The Committee for a Responsible Federal Budget (CRFB) on Monday released the total costs of the Republican and Democratic presidential candidates’ economic plans over the next 10 years, while acknowledging the difficulty of a precise estimate due to “a high degree of uncertainty” about the details.To account for that, the analysis includes a low-cost and high-cost projection for each, with Harris’ plans adding between $0 and $8.1 trillion to the national debt and Trump’s adding between $1.5 trillion and $15.2 trillion.The estimates also don’t take into account changes in GDP that will occur, though some provisions incorporate the dynamic effects on the economy of some policies, such as tax cuts and tariffs.Brian Riedl, a senior economic fellow at the Manhattan Institute, noted to The Post that the estimates were based off of the Congressional Budget Office’s (CBO) $22 trillion baseline deficit for the next 10 years and that Congress “typically enacts the expansions but not the savings offsets, raising net costs further.”The highest cost proposals for both candidates would result from extending provisions of the 2017 Tax Cuts and Jobs Act, which reduced individual rates and slashed the corporate rate to 21% from 35%, included a $2,000 Child Tax Credit and doubled the estate tax exemption to $11.1 million for individuals and $22.8 for married couples.Trump, 78, wants to make the tax cuts permanent, which CRFB estimates would increase deficits by roughly $5.35 trillion over the next decade, though that figure could be almost a trillion dollars lower when accounting for faster economic growth.Exempting both overtime income and service industry workers’ tips would add another $2.3 trillion to the national debt.Another $1.3 trillion woul...

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Publisher: New York Post

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