Checking the accuracy of speeches from Harris and Sen. Bob Casey at DNC 2024.
Welcome to the Boston Post News Network’s coverage of the 2024 Democratic National Convention! This week in Chicago, speakers have been making bold claims, and CBS News is on the scene to fact-check these statements. From Vice President Kamala Harris’s acceptance speech to Senator Bob Casey’s remarks, we’re here to break down the facts for you.
Let’s start with Vice President Kamala Harris, who made a striking statement about former President Donald Trump’s tariff plan. Harris claimed that Trump’s proposed tariffs could cost middle-class families almost $4,000 per year. While this claim is partially true, it does need some context.
Harris was referencing estimates of the potential costs if Trump were to implement tariffs on imported goods. Different analyses have projected varying impacts, with one study suggesting a tax increase of about $3,900 annually for middle-income families under a 20% tariff on most imports and a 60% tax on Chinese goods. The Tax Policy Center offered a different perspective, estimating that a 10% worldwide tariff and a 60% tariff on Chinese goods could lower average after-tax incomes by $1,800 in 2025.
Economists have pointed out that higher import tariffs would likely lead to increased prices on goods, effectively acting as a tax on products made in other countries. Robert Lighthizer, Trump’s former chief trade negotiator, suggested that any burden on American households from tariffs could be offset by tax cuts.
Now, let’s move on to another claim by Harris, this time about Trump giving billionaires more tax breaks that would add $5 trillion to the national debt. While Harris’s statement is misleading, it’s essential to provide some context.
During his presidency, Trump enacted the Tax Cuts and Jobs Act in 2017, which included permanent cuts to corporate tax rates and reduced individual tax rates for many households. Estimates from nonpartisan sources like the Joint Committee on Taxation and the Tax Policy Center indicated that the majority of people benefited from these tax cuts.
Trump has expressed a desire to extend individual tax rate cuts beyond 2025, a move that could cost trillions over the next decade. The Biden-Harris administration has proposed extending some of these tax cuts for families earning under $400,000 annually. Additionally, Trump has advocated for other tax cuts, including eliminating taxes on tips, a proposal also supported by Harris.
Turning our attention to Senator Bob Casey’s claim that Democrats capped insulin costs for millions of Americans, this statement is true, but it requires some context. In 2022, President Biden signed the Inflation Reduction Act, mandating that Medicare Part D and Part B plans cap monthly costs for covered insulin products at $35.
Prior to this legislation, the Trump administration had introduced a limited voluntary program that allowed some Medicare Part D plans to cap out-of-pocket costs for certain insulin products at $35 per month. However, under the Biden administration, more individuals on Medicare Part D had their insulin costs capped at $35 per month.
Overall, it’s clear that the 2024 Democratic National Convention is full of bold claims and promises. As we continue to hear from speakers throughout the week, CBS News’ Confirmed team will be here to fact-check these statements and provide you with the most accurate information. Stay tuned for more updates!
By the Boston Post News Network Team
