US Vice Presidential Debate: Pence says Biden wants to go back to economic surrender to China

The debate just heated up over taxes and the economy.

Harris laid into Trump's personal taxes.

“Susan I'm glad you asked about transparency because it has to be across the board, Joe has been incredibly transparent over many, many years,” she says.

“He is honest he is forthright, but Donald Trump, on the other hand, has been covering up everything.”

Pence defends the President, saying that “the President said those public reports are not accurate.”

Harris talked up Biden’s plan, by saying that they will be winding back taxes for the rich; investing in infrastructure and clean energy; refocusing on education.

Pence, however, hits back: “When Joe Biden was vice president, they tried to tax and spend and regulate way back to a growing economy. President Trump cut taxes across the board.”

Pence reminded the public that Biden intends to repeal the tax cuts on day one, also explaining that the tariffs on Chinese imports will be repealed.  

''Biden wants to go back to economic surrender to China.''

Pence claimed that the average household has had $4000 in tax cuts while Harris said that the tax cuts have only befitted the top 1%.

Harris said that the Biden will not raise taxes on anyone who earns less than $400k per year. 

Pence reminded the public that Biden intends to repeal the tax cuts on day one, also explaining that the tariffs on Chinese imports will be repealed.  

''Biden wants to go back to economic surrender to China.''

Harris said you lost the trade war, losing 300k jobs in manufacturing and will have lost more jobs than any other US presidency. 

Market implications

The US dollar has been under pressure but will thrive on uncertainty if US stocks cannot maintain traction on the bid.

DXY stationary on FOMC minutes, needs to hold above 93.40