How Kamala Harris May Differ From Joe Biden On Pocketbook Issues

With nan days of Bidenomics now numbered, voters are waiting to spot what precisely nan president’s preferred replacement would do for their finances. 

President Joe Biden announced Sunday he is dropping retired of nan statesmanlike race, putting nan spotlight connected nan campaigner he endorsed to return his place, Vice President Kamala Harris.

“It seems apt that a Harris administration, should it travel to pass, would support galore of nan economical policies pursued by nan Biden administration,”  Michael Pugliese and Aubrey George, economists astatine Wells Fargo Securities, wrote successful a commentary Monday. “Should Vice President Harris triumph nan nomination, we will beryllium watching intimately to spot what economical argumentation breaks she has pinch nan existent president, if any.”

With nan taxation code, nationalist debt, and galore different financial matters astatine liking successful nan election, location are galore unanswered questions astir what, if anything, Harris would do otherwise than her predecessor. However, her grounds whitethorn clasp clues.

Hints From Previous Policy Proposals

Biden besides projected raising nan firm taxation complaint to 28% from its existent level of 21%, whereas nan afloat repeal that Harris projected would make it revert to its pre-TCJA level of 35%.

For his part, Trump has said he would widen nan full TCJA. 

In 2019, Harris projected a awesome healthcare reform, joining Bernie Sanders and different progressives successful calling for medicare sum to beryllium extended to everyone sloppy of age. Harris’s Medicare For All scheme would person been paid for partially by a caller taxation connected financial transactions, including 0.2% from each banal trade.

Big Shifts successful Economic Agenda Unlikely

Whatever circumstantial policies Harris favors, nan wide outlines of nan prime facing voters are improbable to change, immoderate analysts noted.

The Democratic broadside favors much societal programs, taxation breaks for debased and middle-earners and higher taxes for nan wealthy, while Republicans person based on for broader taxation cuts, including for businesses and nan wealthy. The 2 sides besides differ connected trade, pinch Trump having projected across-the-board tariffs connected imports, successful opposition pinch Biden’s argumentation of constrictive tariffs connected definite products for illustration Chinese electrical cars. 

“We would not expect nan Democrats’ fiscal and waste and acquisition argumentation schedule to displacement meaningfully successful nan arena that Harris is nan nominee,” Jan Hatzius, main economist astatine Goldman Sachs wrote successful a investigation note.