Where the Republican Presidential Candidates Stand on Five Key Economic Issues

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Where the Republican Presidential Candidates Stand on Five Key Economic Issues
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GOP contenders outline policies on China, Social Security before first primary debate

Chris Christie Photographer: Aristide Economopoulos/Bloomberg , Bloomberg

That leaves at least seven candidates on stage in Milwaukee: Florida Governor Ron DeSantis, former Vice President Mike Pence, former United Nations ambassador Nikki Haley, South Carolina Senator Tim Scott, former New Jersey Governor Chris Christie, entrepreneur Vivek Ramaswamy and North Dakota Governor Doug Burgum.

What he’s said: “We will replace Biden’s tax hikes with the beautiful Trump tax cuts. We have to extend the tax cuts, biggest tax cuts in history.”Trump has called for imposing baseline tariffs against Chinese goods, revoking China’s permanent normal trade relations status, phasing out imports of essential goods from China over four years, barring US companies from investing in China, revoking federal contracts from companies that outsource to China, and banning China from buying US farmland.

What he's said: “We are also going to ensure that tax rates are low, that the tax code is simple and that these policies are permanent so that people are able to make decisions about how to deploy their resources.”DeSantis calls China “the most formidable adversary we face since the Soviet Union.

What he’s said: “If we act in this moment with the support of this generation, we can introduce common-sense reforms that will never touch anyone who is in retirement, or anyone who will retire in the next 25 years.”As vice president, Pence supported the 2017 tax cuts, pointing to White House figures estimating that a typical family of four earning $73,000 received a $2,000 tax break from them. In his campaign kickoff speech, he called for extending them.

What he’s said: “The time has come for America to return to the policies that will drive American growth and American strength and it begins with American energy.”Haley has proposed raising the retirement age for people now in their 20s, limiting benefits for the wealthy and using chained CPI, which measures when consumers switch to a less expensive alternative, that would reduce future increases. She has also proposed expanding private Medicare Advantage plans.

What she’s said: “Do we want renewables? Sure we do, but we want to make sure we have every other type of energy possible.”As a member of the House in 2012, Scott voted for a proposal to raise the retirement age for Medicare. He now says that he would not touch Social Security or Medicare benefits, although he also says the country should examine the state of entitlements to “tame the tiger.” He has said he would focus Medicare to improve efficiency and pay for outcomes instead of procedures.

What he’s said: “We’ve worked to find a common-sense solution to address executive accountability that is tailored to protect the American taxpayer and limit government overreach.”As a senator, Scott has cosponsored a bill to repeal a Biden administration tax on crude oil and imported petroleum products.

What he’s said: “The Chinese have taken advantage of our good nature, stealing our intellectual property, spying on us, causing trouble around the world, unfair trade deals, and it’s time for that to stop now.”Christie says he would keep Powell as Federal Reserve chair when his term ends in 2026 but he thinks he could have acted sooner to raise interest rates to fight inflation.

What he's said: “Let me make it really simple for Xi Jinping’s translator, okay? Do not mess with Taiwan before 2028, before the end of my first term, okay?”Ramaswamy says the Federal Reserve’s dual mandate on inflation and unemployment has been “disastrous” and he would narrow its mission to preserving the dollar as “a stable financial unit.” He opposes ESG investing and the creation of a central bank digital currency.

What he’s said: “There’s so many good things about it, but it starts with virtually every American is going to have more money in their pocket.”Burgum said that Chinese President Xi Jinping is a “brutal dictator” with a poor human rights record. He has said the US is in a “Cold War” with China, which he would fight economically and militarily. He’s said he would “use energy policy as a lever” in that push since China is a major importer of oil and gas.

What he’s said: “We have got to protect Social Security and Medicare. When you look at the long-term concerns about it, we have got to bring in more workers.”Hutchinson praised the 2017 tax cuts, especially the section creating tax-deferred “opportunity zones,” which Arkansas pursued while he was governor.

What he’s said: “We don’t want to be dependent on other countries. We don’t want our president going to Saudi Arabia and say, ‘Please, can you produce more oil?’”Hurd voted against a conservative proposal to raise the Social Security retirement age, reduce benefits for the wealthy and adopt chained CPI.

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