CBS News is fact-checking statements made by speakers at the 2024 Democratic National Convention, including Vice President Kamala Harris. Harris claimed that Trump’s tariff plan would cost families almost $4,000 per year, which is partially true and needs context. She cited estimates of potential costs if Trump were to implement tariffs on imported goods, with varying estimates from different think tanks. Economists have said that consumers would bear the brunt of higher import tariffs through increased prices on goods, effectively acting as a tax on products made in other countries.
Harris also claimed that Trump would give billionaires more tax breaks that would add $5 trillion to the national debt, which is misleading. Trump has proposed tax cuts for high earners and other taxpayers, with estimates from nonpartisan organizations showing that most people would benefit from these cuts. Trump has signed previous tax legislations and proposed extending tax cuts for individuals before they are set to expire. The Biden-Harris administration has put forward proposals to extend some of the Trump-era tax cuts for families earning under $400,000 annually.
Sen. Bob Casey claimed that Democrats capped insulin costs for millions of Americans, which is true but needs context. President Biden signed the Inflation Reduction Act into law, mandating that all Medicare Part D and Part B plans cap monthly costs for covered insulin products at $35. Previously, the Trump administration had a voluntary program that allowed some Medicare plans to cap insulin costs at $35 per month, but it was not as widespread. After Biden signed the Inflation Reduction Act, more insulin users on Medicare had their costs capped at $35 per month.
CBS News is covering the DNC live and fact-checking claims made by speakers regarding various policies and proposals. The fact-checking team is analyzing statements made by politicians, including Vice President Kamala Harris, on topics such as tariffs, tax breaks, and healthcare policies. By providing context and examining the accuracy of these claims, CBS News is helping viewers understand the implications of the policies being discussed at the convention. The fact checks are based on estimates from think tanks and economists, as well as data from government programs, to ensure accuracy and transparency in reporting.
The fact check on Vice President Harris’ statement about Trump’s tariff plan reveals different estimates from various think tanks, highlighting the potential impacts on middle-class families. The analysis shows that tariffs on imported goods could lead to higher prices for consumers, affecting their overall spending. Similarly, the fact check on tax breaks for billionaires proposed by Trump underscores the potential cost to the national debt and the implications for different income groups. By fact-checking these claims, CBS News is helping viewers evaluate the accuracy of the information presented at the Democratic National Convention and make informed decisions based on factual reporting.
