Trump Tax Ideas Would Lead to 'Mother of All Stagflations': Summers

News June 14, 2024 at 04:24 PM
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What You Need To Know

  • Trump has floated tariff hikes as a way to pay for some income tax cuts.
  • His anti-immigration stance could squeeze the labor supply, and repealing Biden's renewable energy subsidies would push up power costs, the former Treasury secretary says.
  • A Trump spokeswoman said his policies would reduce inflation.
Donald Trump speaks at New York State Supreme Court in New York