WATCH: Walz stresses Harris’ economic plan will help the middle class | CBS Vice Presidential Debate

In response to a question about how the Harris-Walz administration plans to pay off the $1.2 trillion deficit created by new tax credits in their current economic plan, Walz answered that he and Harris both come from a middle-class background and understand the issues that the middle class faces.

He also said that an overlooked aspect of Harris’ economic plan is its proposal for 3 million new houses with down payment assistance, which will especially help middle-class families afford housing.

“A house is much more than just an asset to be traded somewhere. It's foundational to where you're at,” Walz said.

Walz highlighted other aspects of Harris’ economic plan, such as lowered costs of everyday goods like insulin, middle-class tax cuts and tax credits for children and small businesses.

Walz then criticized Trump for giving tax cuts predominantly to the rich, claiming that these tax cuts led to an “$8 trillion increase in the national debt, the largest ever” and that Trump’s current tax proposals will be even worse for the nation’s economy.

“Now he's proposing a 20 percent consumption or sales tax on everything we bring in. Everyone agrees, including businesses, it would be destabilizing. It would increase inflation and potentially lead to a recession,” Walz said.

Instead, Walz said, he and Harris will “just ask the wealthiest to pay their fair share.”

“When you do that, our system works best. More people are participating in it, and folks have the things that they need,” Walz said.

With just more than a month to go before Election Day, Vance and Walz met for their first and only vice presidential debate on Oct. 1, hosted by CBS in New York.

For more context, our partner PolitiFact is live factchecking the debate

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