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U.S. Vice President Kamala Harris and former President Donald Trump faced off in a highly anticipated debate on Tuesday. The event, hosted by ABC News and moderated by anchors David Muir and Linsey Davis, saw the presidential candidates exchange barbs on a wide range of economic topics, including tariffs, inflation, housing and energy policy.
Here are some of the highlights related to business and the economy:
Harris on housing: “We know that we have a shortage of homes and housing, and the cost of housing is too expensive for far too many people. We know that young families need support to raise their children.
Trump on tariffs: “We’re doing tariffs on other countries. Other countries are going to 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.”
Harris on promoting small business: “I love our small businesses. My plan is to give a $50K tax deduction to start-up small businesses, knowing they are part of the backbone of America’s economy. My opponent, on the other hand, his plan is to do what he has done before, which is to provide a tax cut for billionaires and big corporations, which will result in $5T to America’s deficit.”
Trump on inflation: “When I had it, I had tariffs and yet I had no inflation. … We have inflation like very few people have ever seen before. Probably the worst in our nation’s history.”
Harris on the trade deficit: “Let’s be clear that the Trump administration resulted in a trade deficit, one of the highest we have ever seen in the history of America.”
Trump on healthcare: “Obamacare was lousy healthcare. Always was, it’s not very good today. We’re going to replace it. I had choice to make. Do I save it and make it as good as it could be? Or do I let it rot? If we can come up with a plan that can cost our population better healthcare than Obamacare … I have concepts of a plan, I’m not president right now.”
Harris on healthcare: “As I’ve been Vice President, we over the last four years have strengthened the Affordable Care Act. We have capped the cost of insulin at $35/month. Access to healthcare should be a right, and not just a privilege for those who can afford it.”
Trump on green energy: “I am a big fan of solar.”
Harris on green energy: “We have invested a trillion dollars in a clean energy economy, while we have also increased domestic gas production to historic levels.”
Trump on immigration: “Bad immigration is the worst thing that can happen to our economy.”
For investors looking to track the elections through market instruments, here are some politically driven Republican and Democratic exchange-traded funds:
- God Bless America ETF (YALL)
- American Conservative Values ETF (ACVF)
- Point Bridge America First ETF (MAGA)
- Democratic Large Cap Core ETF (DEMZ)
- Unusual Whales Subversive Democratic ETF (NANC)
- Unusual Whales Subversive Republican ETF (KRUZ)
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