Neither candidate has a plan to reduce the national debt, according to the nonpartisan Committee for a Responsible Federal Budget, butDonald Trump would increase it far more than Hillary Clinton.
Clinton on Wednesday night said her plan “wouldn’t add a penny to the debt.”
An analysis released last month said Clinton’s plans would boost the debt by $200 million over the next decade, keeping it on track with its current upward trajectory. Trump would increase it by $5.3 trillion in the same time period.
The reason for the gap between the two candidate’s plans? Clinton would increase taxes to pay for her spending plans, while Trump wants to slash taxes.
The Tax Foundation, a think tank in Washington, said Clinton’s plans would make the tax code more progressive, boosting rates on the wealthy. Revenue would be increased by $1.4 billion over a decade.
Trump, on the other hand, wouldreduce revenue by as much as $5.9 billion in the same time period, according to the Tax Foundation. Income tax rates on the wealthy would be decreased under his plans. On Wednesday night, Trump said cutting taxes would stimulate growth in the economy.