Note: This analysis has been updated to incorporate new proposals announced by the candidates since we initially published on October 7.| Committee for a Responsible Federal Budget
We estimate that the Harris Campaign tax and spending proposals would increase primary deficits by $1.2 trillion over the next 10 years on a conventional basis and by $2.0 trillion on a dynamic basis that includes a reduction in economic activity. Lower and middle-income households generally benefit| Penn Wharton Budget Model
We estimate that the Trump Campaign tax and spending proposals would increase primary deficits by $5.8 trillion over the next 10 years on a conventional basis and by $4.1 trillion on a dynamic basis that includes economic feedback effects. Households across all income groups benefit on a conventiona| Penn Wharton Budget Model
