How Trump and Biden plan to help the economy

Joey Garrison, David Jackson and Marina Pitofsky, USA TODAY

June 27, 2024 at 6:27 p.m.·1 min read

Ahead of tonight’s CNN Presidential Debate, one key topic on voters’ minds that candidates President Joe Biden and former President Donald Trump will likely discuss is their stances on the economy.

Trump received some of the highest marks from voters for handling the economy. A Wall Street Journal poll in March found that most voters trusted him to do a better job than Biden in bringing down inflation, a top economic concern.

More: Presidential debate live updates: How to watch Trump, Biden's showdown on CNN

In 2017, Trump and his fellow Republicans passed a $1.5 trillion tax overhaul, which would expire during the next president’s term in 2025.

Biden says he believes the best way to boost the U.S. economy is from the middle out and the bottom up. His economic plan has included the $1.9 trillion American Rescue Plan - a post-pandemic stimulus package - and funding for major infrastructure projects and climate initiatives.

Biden has called for increasing the minimum corporate tax to 21% from 15%. He also wants to restore a previous version of the Child Tax Credit, make the healthcare tax credit permanent, and give new home buyers a $400-a-month tax credit for two years to reduce mortgage costs.

Maya Marchel Hoff contributed to this report.

This article originally appeared on USA TODAY: Where do Trump and Biden stand on the economy?

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