1st presidential debate between Trump and Biden spirals into chaotic clash

On Sunday, a New York Times expose on President Trump’s tax returns revealed decades of tax avoidance and millions of dollars in business losses over the past two decades.

The picture painted by Trump’s returns is sharply at odds with the shrewd, deal-making image the president has tried to fashion as a real estate mogul and TV star on a show built around his business prowess, “The Apprentice.”

Now, five weeks from Election Day, the question is will these new revelations affect the presidential race?

Read the analysis from FiveThirtyEight's Geoffrey Skelley here.

When President Trump rang in 2020, the economy was one of his biggest selling points for reelection. He had inherited a strong economy from the Obama administration, and it continued to grow stronger during his first term. Unemployment was hovering at a 50-year-low, GDP growth was exceeding expectations and Wall Street was riding the longest bull market in its history.

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Trump vs. Biden on the issues: The economy

An overview of the presidential candidates’ positions on various issues.

ABCNews.com

But by spring, all of that came crashing down. While the economy has begun to shakily recoup some of its losses, a full and speedy recovery is anything but assured, making it a top concern for many Americans. According to a poll from the Kaiser Family Foundation released earlier this month, registered voters ranked the economy as the most important issue in deciding their pick for president, putting it ahead of the ongoing pandemic.

Trump is now trying to convince the country that since he oversaw a robust economy before the outbreak, he’s the best candidate to restore it. His opponent, Joe Biden, argues that Trump’s mishandling of the coronavirus compounded its impact on an economy that was inequitable to begin with and that it should be reimagined rather than rebuilt.

Click here to see how the candidates’ economic plans compare.

-ABC News' Shannon K. Crawford

Former Vice President Joe Biden boarded a new campaign plane in Wilmington, Delaware, at 3:18pm as he gets ready to head to Cleveland, Ohio, for the debate tonight.

-ABC News' Molly Nagle

Overwhelming support in Philadelphia and its suburbs lift former Vice President Joe Biden to a clear lead in crucial Pennsylvania, with backing from college-educated white people and women -- notably white, moderate and suburban women -- central to his advantage in a new ABC News/Washington Post poll.

President Donald Trump, for his part, is suffering attrition among his 2016 supporters; 8% of them now back Biden instead. While a small slice of the electorate, it’s a potentially important factor in a state Trump won by 44,292 votes out of nearly 6.2 million cast four years ago.

Likely voters support Biden over Trump by 54 to 45%, almost exactly matching a national ABC/Post poll released Sunday. The result includes more than a 2 to 1 Biden lead in the populous Philadelphia suburbs, home to nearly a quarter of likely voters, and close results in northeastern and western Pennsylvania, leaving only the conservative center of the state clearly to Trump.

See more data on this new poll here.

-Gary Langer of Langer Research Associates, conducted the poll.

-ABC News' Isabella Meneses contributed to this report.