Examining how Trump and Harris' economic plans could affect inflation

Nick Timiraos:

Well, I think they would point to the tax increases if they can actually be implemented.

I think if you look at some of the spending, I think the ARP, the 2021 relief plan, was clearly focused on the pandemic. With the Inflation Reduction Act and some of these subsidies for green energy investments, the Biden administration has kind of kept the cost of these things down, and that's because they've become more popular.

So as businesses take advantage of these subsidies and claim these credits more frequently, the cost of the program will increase. And that's actually what budget forecasters and auditors say: The Inflation Reduction Act will be more expensive because these benefits are more popular among the companies that take them.