The outcome of the presidential race and which party will control the House and Senate is too close to call. But a handful of economic ideas touted by Donald Trump and Kamala Harris stand a good chance of becoming reality no matter who wins.
As we reported a couple of weeks back, Kamala Harris and Donald Trump see eye to eye on some matters. Harris supports Trump’s idea to eliminate taxes on the tips of service workers. Trump also wants to cap insulin prices, though possibly not as low as $35 as Harris is calling for.
Update: Following the candidates’ debate on September 10, Trump floated the idea of eliminating taxes on overtime. No taxes on OT is a winning idea for Americans working long hours who’d like to keep more of their hard-earned money.
Trump, Harris Voters Find Common Ground
Turns out a majority of Republican and Democrat voters like several proposals the candidates are stumping for, based on a Wall Street Journal survey of registered voters. Lawmakers in Congress on both sides of the aisle will want to support some bipartisan pieces of legislation — especially ones that a high percentage of their voters like.
The six most popular ideas among both GOP and Dem voters according to the Journal poll are:
- Capping insulin prices at $35 (Harris idea). A whopping 96% of Dems and 75% of GOPers want a price cap. Big Pharma lobbyists could go all out to water down a price-fixing deal.
- Eliminating Social Security taxes for senior citizens (Trump) — 76% D / 89% R
- Eliminating taxes on service worker tips (Trump) — 76% D / 85% R
- Capping out-of-pocket spending on prescription drugs to $2,000 per year (Harris) — 95% D / 60% R
- Penalizing companies that engage in price gouging on food and groceries (Harris) — 93% D / 57% R
- Provide a $6,000 tax credit to families with newborns (Harris) — 85% D / 49% R
Dem voters are most averse to Trump’s idea of imposing a tariff of up to 20% on all imported goods. Just 19% of Dems support it despite the fact Joe Biden kept some Trump tariffs in place and even added tariffs on Chinese exports. Harris’ plan to increase the corporate tax rate from 21% to 28% is her least popular idea among R voters — just 11% support a tax hike.
