Economic promises from the Presidential Debate

SIOUX FALLS, S.D. (KELO) – We are now 54 days away from the 2024 general election. Tuesday night Former President Donald Trump and Vice President Kamala Harris were on stage together for the ABC News Presidential Debate.

The debate started with a handshake and then quickly led to discussion on one of the most pressing issues for voters: the economy.

“I imagine and actually plan to build what I call an opportunity economy,” Harris said.

“I had no inflation, virtually no inflation,” Trump said. “They had the highest inflation.”

Trump also spoke about his plan for tariffs.

“We’re doing tariffs on other countries,” Trump said. “Other countries are gonna finally, after 75 years, pay us back for all that we’ve done for the world and the tariff will be substantial in some cases. I took in billions and billions of dollars as you know, from China.”

Schwan’s project gets $25 million of state loans

Trump was then asked about higher prices for Americans because of tariffs.

“They’re not gonna have higher prices,” Trump said. “What’s gonna have and who’s going to have higher prices is China and all of the countries that have been ripping us off for years.”

Harris spoke about her plan for a child tax credit of $6,000.

“Which is the largest child tax credit that we have given in a long time so that those young families can afford to buy a crib, buy a car seat, buy clothes for their children,” Harris said.

Still on the topic of taxes, Harris mentioned a deduction for people wanting to start a small business.

“I love our small businesses. My plan is to give a $50,000 tax deduction to start up small businesses knowing they are part of the backbone of America’s economy,” Harris said.

In Tuesday night’s Your Money Matters we spoke with a local economist about the current state of the economy when it comes to things like inflation and unemployment. You can find that full story by clicking here.