Protect your money if Kamala Harris becomes president with a 4-point plan – she’ll make moves from day one, experts warn

DONALD Trump’s historic 2017 tax cuts are set to expire in 2025, potentially leading to a large tax hike for most Americans if the provisions are not renewed.

Trump has used these expiring provisions as a focal point this election, promising to renew and further cut taxes for all Americans.

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As Donald Trump’s 2017 tac cuts are set to expire in 2025, some are left wondering if their taxes will go up[/caption]

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Kamala Harris has promised not to raise taxes on anyone making under $400,000 a year as investors suggest where to place your money if she wins[/caption]

But with the sudden resurgence of Kamala Harris’ campaign, a second Trump term is in jeopardy as the former president has attacked Harris for saying she wants to raise taxes on wealthy Americans and let most of the provisions expire.

However, Harris has stated that if elected she will renew some of the expiring provisions, promising not to raise taxes on any American making less than $400,000 per year – pointing out that Trump’s cuts unequivocally favored the wealthy and large businesses, according to a report by congress.

Trump’s 2017 cuts also slashed the corporate tax rates from 35% to 21%, something Harris has vowed to raise to about 28% if elected.

Harris also wants to bring back tax credits for parents and assistance for housing, childcare, and paid leave.

Although both candidates agree they will not raise taxes on the vast majority of Americans, a presidential term from Trump or Harris would look vastly different from each other.

And investors are paying attention, laying out a game plan to capitalize on the direction of the economy and country if Harris’ energetic campaign is successful.

“If Trump loses, we might see shifts in tax policies, regulatory frameworks, and interest rates,” Venkata Jagadish, a real estate investor and the founder of Jay Buys Houses Group told GOBankingRates.

“These changes could create new opportunities in the real estate market,” he said.

One of Trump’s campaign promises has been to expand domestic oil production, frequently using the mantra, “Drill, baby. drill.”

Trump also said he has plans to roll back President Joe Biden’s Inflation Reduction Act, which provided $20 billion to boost renewable energy projects.

So if Trump were to lose come November, experts say Americans can expect initiatives that continue to cut America’s dependence on fossil fuels will move forward and to invest accordingly.

This means investing in renewable energy companies like First Solar could have a nice upside with a Democratic-led White House.

“If Trump loses, it’s likely that a democratic administration would prioritize green energy initiatives, providing substantial federal support and incentives for the renewable energy sector,” Dennis Shirshikov, a finance and economics professor at The City University of New York told GOBankingRates.

“Investing in companies specializing in solar, wind, and other sustainable energy sources could yield considerable returns.”

Another investment area to be looked into if Trump loses would be infrastructure, as rebuilding our nation’s infrastructure has been a key talking point for Democrats.

“If Trump loses, we could see an increase in federal spending on infrastructure as part of economic stimulus efforts,” said Shirshikov.

“Infrastructure investments typically include upgrades to roads, bridges, public transit, and renewable energy infrastructure,” Shirshikov continued.

“Companies involved in construction, engineering, and materials could see a surge in demand.”

Another piece of advice from financial experts, if Harris is elected, is don’t be in a rush to pay off your student debt.

Democrats, though receiving pushback and hitting speed bumps, have been on a mission to eliminate portions of student debt owed by Americans.

“If Trump loses the election, I’m holding off on refinancing my student loans,” said Brian Kuderna, founder of Kuderna Financial Group and author of “What Should I Do with My Money?“

“The Biden-Harris administration has been promising student loan relief and forgiveness from day one, so if Harris is elected, she’d likely push through some reform — but this would only affect federal student loans, not private ones,” he said.