{"id":2291317,"date":"2024-07-09T16:05:02","date_gmt":"2024-07-09T20:05:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/where-trumps-top-vp-contenders-stand-on-economic-policy-washington-examiner\/"},"modified":"2024-07-09T16:07:42","modified_gmt":"2024-07-09T20:07:42","slug":"where-trumps-top-vp-contenders-stand-on-economic-policy-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/where-trumps-top-vp-contenders-stand-on-economic-policy-washington-examiner\/","title":{"rendered":"Where Trump\u2019s top VP contenders stand on economic policy &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwhere-trumps-top-vp-contenders-stand-on-economic-policy-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2291317&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The article discusses the top three <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-open-to-ramaswamy-as-vice-president-i-think-hes-great\/\" title=\"Trump approves of Ramaswamy as Vice President: &#039;He&#039;s fantastic.&#039;\">potential vice presidential contenders<\/a> \u200dfor former President Donald Trump based on reports from the New York Times and political prediction markets. The contenders, Gov. Doug Burgum, \u2064Sen. J.D. Vance, and Sen. Marco Rubio, share similarities\u200d in economic policy but also have \u2063notable differences. All three candidates are\u2063 expected to support extending the 2017 Tax \u200cCuts and\u200c Jobs \u2064Act, \u200cwith a focus on the child tax credit. The \u2063article also\u2064 delves into each candidate&#8217;s stance \u2063on trade policy, particularly regarding tariffs and job creation. Additionally, Sen. Tim Scott is mentioned as a potential contender for the vice presidential role\u200d alongside Trump.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><br \/>\n<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><a class=\"tdb-logo-a\" href=\"https:\/\/www.washingtonexaminer.com\/\" title=\"Washington Examiner\"><span class=\"tdb-logo-img-wrap\"><\/span><span class=\"tdb-logo-text-wrap\"><span class=\"tdb-logo-text-title\">Washington Examiner<\/span><\/span><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\">\n<div class=\"tdb-search-form-inner\"><input class=\"tdb-head-search-form-input\" placeholder=\" \" type=\"text\" value name=\"s\" autocomplete=\"off\"><button class=\"wpb_button wpb_btn-inverse btn tdb-head-search-form-btn\" title=\"Search\" type=\"submit\"><span>Search<\/span><\/button><\/div>\n<\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><a class=\"tdb-logo-a\" href=\"https:\/\/www.washingtonexaminer.com\/\" title=\"Washington Examiner\"><span class=\"tdb-logo-img-wrap\"><\/span><span class=\"tdb-logo-text-wrap\"><span class=\"tdb-logo-text-title\">Washington Examiner<\/span><\/span><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Where Trump\u2019s top VP contenders stand on economic policy<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-author-name-wrap\"><span class=\"tdb-author-by\">By<\/span> <a class=\"tdb-author-name\" href=\"https:\/\/www.washingtonexaminer.com\/author\/zachary-halaschak\/\">Zachary Halaschak<\/a><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><time class=\"entry-date updated td-module-date\" datetime=\"2024-07-09T15:39:32-04:00\">July 9, 2024 3:39 pm<\/time><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1696133\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The top three men reportedly in the running to be former President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" target=\"_blank\" rel=\"noopener\" title>Donald Trump\u2019s<\/a> vice presidential contender share many similarities in <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/economy\/\" target=\"_blank\" rel=\"noopener\" title>economic<\/a> policy but also some key differences.<\/p>\n<p>The three most likely candidates for the role are Gov. <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/doug-burgum\/\" target=\"_blank\" rel=\"noopener\" title>Doug Burgum<\/a> (R-ND), Sen. <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/jd-vance\/\" target=\"_blank\" rel=\"noopener\" title>J.D. Vance<\/a> (R-OH), and Sen. <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/marco-rubio\/\" target=\"_blank\" rel=\"noopener\" title>Marco Rubio<\/a> (R-FL), <a href=\"https:\/\/www.nytimes.com\/interactive\/2024\/us\/politics\/donald-trump-vp.html\" target=\"_blank\" rel=\"noopener\" title>according<\/a> to the <em>New York Times<\/em> and the political prediction markets. Rubio has been around the national political scene for a while, but Burgum is a relative newcomer to national politics, as is Vance.<\/p>\n<p>Here is where the three politicians stand on key economic matters.<\/p>\n<p>On the tax front, all three contenders are expected to support extending the 2017 Tax Cuts and Jobs Act, which is colloquially known as the Trump tax cuts. The TCJA was Trump\u2019s signature legislative achievement and he is pushing to make expiring individual and business provisions in the law permanent.<\/p>\n<p>Without Congress acting, nearly two dozen tax provisions that were part of the TCJA will sunset after 2025.<\/p>\n<p>Among the provisions that will sunset are <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/huge-fiscal-cliff-looms-for-the-president-and-congress-after-election-cycle\/\" title=\"Impending fiscal cliff for president and Congress post-election.\">lower individual income tax rates<\/a> and the ability for pass-through businesses to take a 20% deduction. Pass-through businesses, which are not subject to the corporate income tax, are the most common type of business and include sole proprietorships, partnerships, and S corporations \u2014 most small businesses.<\/p>\n<p>The historic tax law also doubled the child tax credit, increasing it to $2,000 for qualifying families and doubling the estate, or death, tax exemption. That allowed people to keep more of their inheritance before being hit by federal taxes.<\/p>\n<p>The child tax credit is a particularly noteworthy topic. All three men have expressed some form of support for boosting the child tax credit beyond the level set in the TCJA. Vance has spoken about the country\u2019s declining birth rate, which is often an argument in favor of more tax benefits for families and mothers.<\/p>\n<p>Vance expressed some <a href=\"https:\/\/www.washingtonpost.com\/business\/2024\/03\/10\/chld-tax-credit-congress\/\" target=\"_blank\" rel=\"noopener\" title>support<\/a> for recent bipartisan legislation to boost the child tax credit alongside business tax provisions after the bill passed the House, although the legislation never got a Senate vote.<\/p>\n<p>Burgum also told the <em>Washington Examiner<\/em> during an interview while he was running for president that <a href=\"https:\/\/www.washingtonexaminer.com\/news\/2584966\/burgum-backs-bigger-child-tax-credit-amid-broader-gop-family-push\/\" target=\"_blank\" rel=\"noopener\" title>he supports<\/a> a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/major-bipartisan-child-tax-credit-plan-what-it-means-for-families\/\" title=\"Significant bipartisan child tax credit plan: impact on families\">bigger child tax credit<\/a>. As governor, he also signed into law a multimillion-dollar legislative bill to support child care services in North Dakota.<\/p>\n<p>Rubio has long been a proponent of a bigger child tax credit. Rubio and Sen. Mike Lee (R-UT), in 2021, introduced a proposal that would have boosted the child tax credit to $3,500 per child and $4,500 per child under the age of six.<\/p>\n<p>In terms of economic policy, a Trump presidency would usher in perhaps the most tectonic realignment on trade policy in modern history. The Republican Party has traditionally supported more free trade and less tariffs, but Trump supports a form of protectionism far removed from that.<\/p>\n<p>He even floated\u00a0the idea of 10% across-the-board\u00a0tariffs. The former president has also <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/3046115\/trump-talking-more-tariffs-than-ever-despite-headwinds\/\" target=\"_blank\" rel=\"noreferrer noopener\">flirted with the idea<\/a> of reducing the income tax and replacing it with\u00a0tariffs.<\/p>\n<p>Vance would likely be the most in line with Trump\u2019s trade vision. He, like Trump, supports boosting the country\u2019s manufacturing sector through the use of tariffs and even grabbed headlines when he <a href=\"https:\/\/www.vance.senate.gov\/press-releases\/senator-vance-visits-uaw-picket-line-in-toledo-ohio\/\" target=\"_blank\" rel=\"noopener\" title>visited<\/a> a picket line of striking autoworkers last year.<\/p>\n<p>Speaking with the <em>Washington Examiner <\/em>before endorsing Trump, Burgum pushed back on the former president\u2019s 10% universal tariff idea, saying it\u2019s \u201ctoo simplistic and doesn\u2019t match the real world.\u201d Burgum said such a plan would be inflationary.<\/p>\n<p>\u201cWe have to be able to figure out, who are our friends? Who are our enemies? And then figure out a way to develop trade policy that supports our objectives that actually drives what\u2019s best for American interests,\u201d Burgum said.<\/p>\n<p>Rubio\u2019s views on tariffs have appeared to evolve a bit over time. In 2016, he pushed back on Trump\u2019s tariff proposals and said \u201cwe need to be very careful with tariffs.\u201d<\/p>\n<p>\u201cChina doesn\u2019t pay the tariff. The buyer pays the tariff,\u201d Rubio <a href=\"https:\/\/www.youtube.com\/watch?v=asr0i_B4Ny0&#038;t=5000s\" target=\"_blank\" rel=\"noopener\" title>said<\/a> during a 2016 primary debate. \u201cIf you send a tie or a shirt made in China into the United States, and an American goes to buy it in the store, and there is a tariff on it, [the tariff] gets passed on in the price to the consumer.\u201d<\/p>\n<p>But in a May <a href=\"https:\/\/www.theamericanconservative.com\/trump-is-right-we-should-raise-tariffs-on-china\/\" target=\"_blank\" rel=\"noopener\" title>op-ed<\/a> in the <em>American Conservative<\/em> titled \u201cTrump is right: We should raise tariffs on China,\u201d the Florida senator argued for increasing tariffs on Beijing.<\/p>\n<p>\u201cIn reality, tariffs are good for the economy insofar as they counteract market inefficiencies created by adversarial trade practices,\u201d he wrote. \u201cChina\u2019s anticompetitive tactics, in particular, give Chinese companies an unfair cost advantage over American companies, which unnaturally shifts business, production, and jobs out of the United States.\u201d<\/p>\n<p>Job creation is a big focus for all three candidates, like anyone running for office.<\/p>\n<p>Under President Joe Biden, the labor market has remained strong \u2014 despite inflation undercutting economic sentiment.<\/p>\n<p>Burgum has some business bona fides. After earning a master\u2019s degree in business administration from Stanford University, Burgum mortgaged $250,000 in farmland to buy a stake in Great Plains Software, then a fledgling company. He then bought out the founders in the mid-1980s, expanded the company, and took it public. Microsoft later acquired the company for more than one billion dollars.<\/p>\n<p>Rubio has spoken a lot about the value of work and the country\u2019s labor force. Last year, Rubio\u2019s office published a report that found that, in 2022, there were 7 million men missing from the labor force and 10 million total without work.<\/p>\n<p>Bonus contender: Sen. Tim Scott (R-SC). Scott is another person who has been talked about to appear on the ticket with Trump. Scott has been the champion of opportunity zones, which were created as part of the 2017 tax cuts and give tax breaks to businesses in impoverished areas to spur investment. The 2017 legislation only authorized their use for a decade, though.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>Scott told the <em>Washington Examiner<\/em> last year while running against Trump for the presidency that he <a href=\"https:\/\/www.washingtonexaminer.com\/news\/2579591\/tim-scott-wants-to-strip-china-of-its-developing-nation-status-as-part-of-trade-platform\/\" target=\"_blank\" rel=\"noopener\" title>wants to look at<\/a> \u201copportunity zones 2.0.\u201d<\/p>\n<p>He said they \u201cwould allow us to target those areas of the country, specifically rural America, that could be the home of brand-new factories around the country. That would provide a haircut of 30% off the profits, which would be the same as reducing the 21% corporate tax rate down significantly.\u201d<\/p>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1696133\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1696133\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><a class=\"tdb-logo-a\" href=\"https:\/\/www.washingtonexaminer.com\/\" title=\"Washington Examiner\"><span class=\"tdb-logo-img-wrap\"><\/span><span class=\"tdb-logo-text-wrap\"><span class=\"tdb-logo-text-title\">Washington Examiner<\/span><\/span><\/a><\/div>\n<p><\/body><\/html><\/p>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The top three potential vice presidential contenders for former President Donald Trump, Gov. Doug Burgum, Sen. J.D. Vance, and Sen. Marco Rubio, have similar economic policies but also some differences. They all support extending the 2017 Tax Cuts and Jobs Act, with a focus on the child tax credit. Trump&#8217;s trade policies have shifted the Republican Party towards protectionism, with Vance aligning closely with Trump on trade, while Burgum and Rubio have differing views on tariffs. Job creation is a key focus for all three candidates, with Burgum and Rubio having strong backgrounds in business and labor force issues. Sen. Tim Scott is also a potential contender, known for his support of opportunity zones<\/p>\n","protected":false},"author":2683,"featured_media":2291318,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/07\/vp-candidates-economy.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[34402,5894,3634,34401,32076],"class_list":["post-2291317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-economic-policy","tag-politics","tag-trump","tag-vp-contenders","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/07\/vp-candidates-economy.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2291317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2683"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2291317"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2291317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2291318"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2291317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2291317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2291317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}