Tonight will commence the second debate for the 2024 presidential election, yet in many ways it will be a first. Instead of a second round between President Biden and former President Trump, we will be seeing the first action between VP Harris and Trump following President Biden’s departure from the race. A second debate usually offers the chance for a candidate to correct mistakes and expand upon what resonated with the audience. With VP Harris taking over the Democratic ticket, this is a clean slate and much of what was covered last time has been rendered moot. There are no set topics for tonight and candidates will not be permitted to bring notes onstage. This could lead to some good exchanges as both candidates try to make the most of what will be their only debate.

Former President Trump has a screen time advantage having been in six previous presidential debates. However, instead of facing President Biden for a fourth consecutive time, he is facing a new opponent that he likely never intended to join onstage, putting him at a disadvantage. The former President spent the majority of the first debate outlining why President Biden was physically and mentally unfit to run for the office. Obviously, those disqualifiers do not apply to VP Harris and his team will have to deploy a new strategy. We expect the former President to lampoon the current state of the economy and the high prices that consumers are having to pay.

Trump has been solidifying his economic plans and we expect him to receive questions about his new proposals. He wants a government efficiency commission (possibly headed by Elon Musk) that will eliminate wasteful spending along with a lowering of the corporate tax rate to 15% and raising tariffs on international goods. He will likely face questions on how his proposed tax cuts and tariffs will lower prices for consumers. He could also face questions over his recent policy change to support the legalization of marijuana. An announcement that likely occurred to prevent his opponent from using it as a talking point.

VP Harris will be participating in her first presidential debate, and she will need to make up some ground and present her ideas to the American people with more limited airtime than her opponent. Her campaign has spent the last few weeks outlining her economic policies and we expect it to be a major focus. She has touted her policy to increase the tax deduction for small businesses and provide tax cuts to families through the Child Tax Credit and the Earned Income Tax Credit. She has made headlines by vowing to cut down on price gouging and it is expected that she will receive questions about the particulars of this policy during the debate. VP Harris has faced some criticism about the price tag involved with some of her policies and she will likely have to explain her spending plan tonight.

Previous debates between Trump and Biden often dovetailed into personal jabs that consisted of little policy talk. This will be Harris’ only opportunity to stand opposite Trump before the election and we will have to see if she sticks to policy discussion or engages in the personal banter. We have plenty of tape to know how Trump will approach this debate, yet Harris remains something of a mystery as we only have one VP debate to draw upon.

Whatever happens tonight, it will likely spark conversations across the country tomorrow. Both candidates have policies that could help the economy, yet there are too many lingering questions. Hopefully, they will be game to provide specifics tonight and we will all walk away with a better understanding of where they want to take America. If not, we will have to sift through press releases and campaign speeches to try and find answers to these questions. Either way, CSG will be back tomorrow to recap the debate and shed light on what it all means for the future of the economy.