Trump, Harris Spar on Economy and More in Feisty Debate

The first and perhaps only debate between the presidential candidates touched on inflation, health care and tariffs.

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Updated · 2 min read
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Written by Anna Helhoski
Senior Writer
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Edited by Rick VanderKnyff
Senior Assigning Editor
Fact Checked

At one point during the first and, possibly, only debate between the two presidential hopefuls, Vice President Kamala Harris said to former President Donald Trump, “You’re not running against Joe Biden. You’re running against me.”

That statement was clear to anyone watching.

The energy of Tuesday night’s debate, which was hosted by ABC News in Philadelphia, starkly contrasted the June debate in which Trump faced off against President Joe Biden. The one that led to Biden stepping down and Harris stepping up to be the democratic candidate.

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Harris and Trump clashed over a number of policy proposals including the economy, abortion, climate change, energy, immigration and foreign policy.

Unlike during the CNN-hosted debate in June, ABC News hosts David Muir and Linsey Davis fact checked statements live — including refuting Trump’s false claim that in some states, parents can elect to kill their baby after birth; a false conspiracy theory that immigrants in Springfield, Ohio are eating people’s pets; and another false claim that Democrats favor abortion in the ninth month of pregnancy. Muir and Davis weren’t actively fact checking Kamala Harris much, but they did question why she has changed her positions on fracking and health care — Harris denied that her views have substantially changed.

Speaking of policy positions, the candidates’ plans for the economy were first up, but didn’t get much consistent airtime thereafter. Trump attacked the Biden-Harris administration on inflation before repeatedly bringing the focus to his views on immigration. Meanwhile, Harris doubled down on much of what she’s said on the campaign trail about being raised “a middle class kid”; her Opportunity Economy; and the multiple economic assessments that project Trump’s plans would ignite inflation.

Here are some other takeaways from the debate:

  • Harris said Trump would impose a sales tax (that she’s calling a “Trump sales tax”) on everyday goods. Trump said it was an incorrect statement. What Harris is likely referring to is Trump’s proposal to impose across-the-board tariffs, which would likely increase the cost of imported goods to America. Trump defended his proposals. 

  • Harris didn’t respond when Trump pressed her on why the Biden Administration did not remove the tariffs he put in place during his presidency. 

  • Trump has long tried to get rid of the Affordable Care Act, but said he doesn’t have a health care plan to replace it. However, he does have “concepts of a plan.”  

  • Harris slammed Trump on his views on abortion and that Roe v. Wade was overturned while he was president. Trump said abortion was best left up to the states. Harris said, as president, she would sign a bill that Congress passes to restore abortion rights.  

It was the debate the Harris campaign needed after recent polling: The New York Times/Siena College that was released on Sunday showed Trump leads Harris 48% to 47% nationally (Sept. 3-6). In most swing states (Arizona, Georgia, Nevada and North Carolina), the candidates are tied at 48% each. In Pennsylvania, Harris leads Trump 49% to 48%.

By midnight on the east coast, the Polymarket, a prediction market platform, projected a 96% chance that upcoming polls will show Harris won the debate.

NerdWallet’s 2024 election deep dives

Election 2024: Where the Candidates Stand on Personal Finance Issues Consider this your election cheat sheet to find out what Vice President Kamala Harris and former President Donald Trump are promising to do as they vie for the nation’s highest office.

What would the Trump economy look like? Find out where Trump stands on economic issues like battling inflation, medical debt, jobs, health care, housing, child care, small businesses and more.

What Would Kamala Harris’ Opportunity Economy Look Like? Find out where Harris stands on economic issues like battling inflation, medical debt, jobs, health care, housing, child care, small businesses and more.

How Harris and Trump Want to Battle Inflation and Lower Prices Both presidential candidates are promising to give people what they want: to pay less money for most everything. But whether Trump or Harris are capable of lowering prices is debatable.

What Trump and Harris Have in Store for Your Taxes The campaign proposals that most directly impact your finances are tax cuts and credits, and the candidates’ positions couldn’t be more different.

Trump and Harris embrace no-tax-on-tips, experts say it’s bad policy The presidential candidates promise to exempt workers from paying taxes on their tips. But the problem with no-tax-on-tips proposals, experts say, is that they don’t address the fundamental needs of tipped workers.

How Trump and Harris Aim to Address Your Health Care When it comes to health care, the candidates have been light on the details. Harris has focused on things like lowering prescription drug prices; expanding Medicare care coverage; and restoring federal abortion rights. Trump says he supports IVF coverage, but wants to leave abortion to the states. He also said that he has only a “concept” of a plan to replace the Affordable Care Act.

Labor expert: Trump’s Immigration Plan Would ‘Wreak Havoc’ on Workforce, Economy If Trump were to be elected and able to enact his plans to remove millions of people, it could have disastrous effects on the economy. One labor expert explains why.

Harris v. Trump on Student Loans: Where the Candidates Stand As president, Harris would likely champion student loan relief and free community college. Trump would likely restrict or dismantle loan forgiveness and promote access to non-traditional degrees.

Can Kamala Harris Really Add New Housing, Make It Cheaper? Harris is pledging to create 3 million new homes and make housing more affordable, especially for first-time home buyers. Her housing plans are ambitious — and possibly unrealistic, experts say.

Smart Money’s 2024 Presidential Election Series

Hosts Sean Pyles and Anna Helhoski discuss the grand economic promises made by presidential candidates and the intricate realities of presidential influence on the economy to help you understand the real effects on your daily finances.