Trump would raise national debt by $4T more than Harris, non-partisan report says

WASHINGTON – Both former President Donald Trump and Vice President Kamala Harris are expected to embrace trillions of dollars in new federal spending if elected, but Trump could raise the national debt by more than twice as much as Harris, according to a new report published Monday.
The study by the Committee for Responsible Federal Budget, a non-partisan fiscal policy think tank, estimated that Trump’s economic proposals would increase the debt by an additional $7.5 trillion over the next decade, while Harris’ would add $3.5 trillion.  
More:Inside Trump’s and Harris’ starkly different visions for the economy
The largest chunk of debt would come from both candidates’ proposals to modify and extend the 2017 Tax Cuts and Jobs Act, passed during Trump’s term in office.
The former president’s suggestion that he will extend the cuts for virtually all Americans would heap an estimated $5 trillion onto the national debt over the next 10 years, whereas Harris’ plan to extend cuts for households making less than $400,000 would add a projected $3 trillion, according to the study released Monday.
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Trump has also promised to further cut taxes for corporations, crack down harder on illegal immigration and ramp up military spending. Harris has said she would raise the Child Tax Credit to $3,600 per child under 6 and $3,000 for older children, add new tax incentives for families with newborn babies and aid first time homebuyers. All those policies are anticipated to escalate the national debt.
More:Harris reveals good-vibes economic polices. Experts weigh in.
However, the study suggests that the exact impact of the policies come with a “high degree of uncertainty,” due to the lack of details that either presidential candidate has provided about how they would design and pay for their policy proposals.  
The national debt stood at $35 trillion as of July 2024. Under both Trump and Harris, it’s projected to rise faster than the American economy, according to the CRFB report.
Economists often disagree about whether the current debt level is worryingly high, and whether lowering it should be a priority for lawmakers. However, it’s not clear how much debt the U.S. can take on before the economy experiences repercussions.
Research from the University of Pennsylvania’s Penn Wharton Budget Model estimated in 2023 that the U.S. debt held by the public cannot exceed roughly 200% of the GDP. 
Contributing: Paul Davidson and Medora Lee, USA TODAY