What are Republican presidential primary debate candidates' plans for the economy?

As seven Republican presidential candidates prepare to square off in the second GOP debate on FOX Business Network, voters concerned about the economy will have the opportunity to weigh their options against President Biden's "Bidenomics."

Ahead of Wednesday's event at the Ronald Reagan Presidential Library in Simi Valley, California, here is a look at the economic plans of the 2024 hopefuls who will be on the debate stage:

Ron DeSantis

The Florida governor's economic agenda consists of 10 key pillars and topping the list is what he says is taking back control of the nation’s economy from China and "restoring our economic sovereignty" by ending "our abusive relationship" with Beijing.

DeSantis aims to achieve 3% GDP growth by incentivizing investment, eliminating bureaucracy and red tape, keeping taxes low and unleashing "American energy independence."

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The governor also vows to rein in the Federal Reserve, oppose bailouts and fight "reckless and wasteful federal spending."

Vivek Ramaswamy

The entrepreneur says that if he is elected, the U.S. could achieve greater than 5% GDP growth with his plan to "unleash the American economy," starting with ramping up the drilling of oil, fracking and burning coal.

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Ramaswamy vows to put Americans back to work by what he refers to as a dismantling of Lyndon Johnson's "Great Society," incentivizing young Americans to work in the trades over "hollow college degrees" and slashing the headcount at federal regulatory agencies by at least 75%.

The businessman also plans to limit the Fed's scope to stabilizing the dollar "and nothing more," and wants to prohibit U.S. businesses from expanding in China "until the CCP [Chinese Communist Party] stops cheating."

Nikki Haley

The former United Nations ambassador is promising Americans "thousands of dollars in tax relief," beginning with scrapping the federal gas tax entirely. Haley also wants to cut income taxes for the middle class and plans to simplify the tax code so that "every family can understand it."

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Haley, the former governor of South Carolina, is calling for slashing federal spending, reducing the national debt, restrained monetary policy, supporting the drilling of oil and gas, forcing Congress to vote on every rule and regulation and reducing the size of the federal government "by pushing programs and authority back to the states" such as "welfare, health care, education and infrastructure."

Mike Pence

The former vice president points to tackling inflation as a major priority, and says his administration would fight it "by making America the best place to do business again."

He promises to remove regulatory burdens, enact pro-growth tax policies and ensure "access to abundant American energy."

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As part of an initial plan to cut federal spending, Pence has targeted a list of wasteful programs he says will save taxpayers more than $1.2 trillion, including repealing Biden's student loan forgiveness, getting rid of the EPA and shifting its authority to other agencies and freezing non-defense spending while conducting an audit of federal agencies.

Tim Scott

The South Carolina senator wants to cut non-defense discretionary spending back to pre-pandemic levels, make the 2017 tax cuts permanent and end automatic raises for federal bureaucrats.

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He also plans to reform welfare and implement stronger work requirements, and promote the skilled trades. 

Scott wants to ramp up oil and gas development, double nuclear energy use in the U.S. in 10 years and eliminate both the factory tax and the death tax.

Chris Christie

The former New Jersey governor, while not giving many specifics on his economic agenda, said in a CNN town hall in June that government spending under the Biden administration is "completely out of control." He said one of the first things he'd do as president is impose fiscal discipline again.

Christie also said his approach to handling the economy would include reducing regulation and increasing spending for vocational education.

During Christie's run for the 2016 presidential nomination, he wrote an op-ed in The Wall Street Journal laying out his plan for growing the economy. 

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Christie said then that he would target the tax code by cutting rates and simplifying it so that a majority of Americans could do their taxes in 15 minutes rather than "days, weeks or months."

Doug Burgum

The North Dakota governor says the economy "needs to be the absolute top priority," and touts an approach of "innovation over regulation" as the way to propel it forward.

Burgum told FOX Business' "The Claman Countdown" in July that "innovation is how America has always won," and how it will beat China. He said the federal government is burdening large and small businesses and states with too many regulations, and he wants to shrink it down in line with its "original intention."

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A former software CEO, Burgum vows to get inflation under control, cut taxes and lower gas prices by dramatically increasing U.S. energy production.

FOX Business' Paul Steinhauser contributed to this report.