Where the Republican Candidates Stand on Economic Policy
The economy is almost always one of the most important issues to voters, and that is certainly the case now. Inflation is declining from the abnormally high levels of 2022, but it’s still high.
For the most part, the Republican presidential candidates have stuck to general calls to reduce taxes, spending and regulations. But the details, like which taxes they would lower, by how much and for whom; what they would spend less on; or which regulations they would lift, are often lacking.
Donald J. Trump
Former PresidentHe deployed traditional Republican moves like tax cuts alongside protectionism.
As president, Donald J. Trump mixed Republican orthodoxy on the economy with populism.
Nikki Haley
Former Governor of South Carolina Dropped outShe says she’s more serious about cutting spending than other Republicans.
“It was the Republicans that passed the $2.2 trillion Covid stimulus that started all of this. They went and started giving money to pay people to sit on the couch.”
Ron DeSantis
Governor of Florida Dropped outHe has cast conservative economic plans as a way to stick it to elites.
Gov. Ron DeSantis of Florida has framed his economic plan as a way to disempower “bureaucrats” and “elites.” His 10-point blueprint is titled “We Win. They Lose.”
Vivek Ramaswamy
Entrepreneur Dropped outHe says he would increase G.D.P. growth by stopping efforts to combat climate change.
Our Federal Reserve —
the U.S. Fed —
it’s been trying to play God over the financial system
for far too long.
Except effectively, it’s been the equivalent of playing God
with a fat finger.
The Fed has done a disastrous job
in its mandate of trying to balance
inflation and unemployment.
It’s like the equivalent of trying to hit two targets
with a single arrow.
I’m going to put the Fed back in its place by telling them
to focus on stabilizing the U.S. dollar.
You could say as measured against a basket
of currencies.
And that should be their sole mandate.
You shouldn’t even know who — most Americans,
at least shouldn’t know the name of who’s leading
the Federal Reserve because it should be such a
ministerial function.
Asa Hutchinson
Former Governor of Arkansas Dropped outHe wants to balance the budget and cut the federal nonmilitary work force by 10 percent.
The aim of former Gov. Asa Hutchinson of Arkansas to balance the federal budget is an extraordinarily difficult task, one that would likely require cuts to popular programs like Social Security and Medicare, which he has left the door open to.
Chris Christie
Former Governor of New Jersey Dropped outHe has called for reducing spending and regulations, but hasn’t given many specifics.
Like most Republicans, former Gov. Chris Christie of New Jersey blames Democratic spending for the high, though now declining, inflation rates of the past couple of years.
Doug Burgum
Governor of North Dakota Dropped outHe has called for cutting taxes and reducing regulations, but hasn’t given many specifics.
Gov. Doug Burgum of North Dakota has said that strengthening the economy “needs to be the absolute top priority.” However, he has stuck to broad terms, without detailing how he would do so.
Tim Scott
Senator from South Carolina Dropped outHe has called for reducing spending and regulations.
We have to turn the spigot off and stop spending money we
don’t have,
trying to impress people that are not impressed anywhere
in the world.
If we cut taxes back to where they
were just a few years ago, we can put $4,000 back
in the pockets like we did just a few years ago so
that you get to make your decisions on how
to support your household, and not expect the government
to figure it out for you.
Mike Pence
Former Vice President Dropped outHe wants to cut agencies and regulations and narrow the Federal Reserve’s mandate.
Former Vice President Mike Pence attributes inflation largely to government spending, which he says is “unsustainable,” and to climate policies, which he calls a “war on American energy.” His plan for reducing costs includes:
Will Hurd
Former United States Representative Dropped outHe has called for reducing spending, but hasn’t given many specifics.
Former Representative Will Hurd of Texas argues that President Biden has focused too much on monetary policies, like interest rates, and too little on fiscal policies, like taxes and spending.
Francis Suarez
Mayor of Miami Dropped outHe has called for reducing spending and taxes, but hasn’t given many specifics.
Mayor Francis X. Suarez of Miami has not provided many details on his economic plans, beyond calling generally for lower spending and taxes. His campaign did not respond to a request for more information.