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One of the things people are worried about is how the outcome mightaffect their wallets.
Sherry P., a corporate lawyer from Phoenix, counts herself amongst the election watchers.
Im always thinking about how politics might impact my bottom line, Sherry said.
With Harriss recent economic plans, Im trying to figure out what it could mean for my monthly budget.
I dont know, my family tells me not to worry so much, but Im watching.
Here are seven reasons Sherry is concerned abouthow a Harris win could affect her finances.
Shes keeping a close eye on Harriss tax proposals.
Harriss campaign has mentioned increasing taxes on corporations and high earners to offset new spending, Sherry said.
This could potentially impact Sherrys take-home pay.
I dont have kids, so I wouldnt benefit from an expandedChild Tax Credit, Sherry explained.
Sherry worries this could lead to cuts in other areas or further tax increases to cover the cost.
Housing Market Concerns
Harris has proposed a $25,000 tax credit for first-time homebuyers.
While this doesnt directly affect Sherry as an existing homeowner, shes worried it could affect theentire housing market.
A big influx of new buyers could drive up home prices even more, Sherry said.
Potential Impact on Investment Income
As a high earner, Sherry has significant investments.
Shes worried about how Harriss economic policies might affect the stock market and her investment income.
Any major policy changes can shake up the markets, Sherry explained.
If corporate taxes go up, that could potentially lower stock values or dividend payments.
Thats a big part ofmy long-term financial planning.
Healthcare Costs
Harris has proposed extending the Affordable Care Act premium tax credit expansion.
I already pay a lot for health insurance, Sherry said.
The $10,000 cap on SALT deductions has been a point of contention, Sherry said.
As a high earner in Arizona, I paysignificant state and local taxes.
Any changes to this cap could have an impact on my federal tax bill.
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