Harris Promises to Create ‘Opportunity Economy’ and Criticizes Trump’s Tax Policies
Kamala Harris Unveils Economic Plan to Create ‘Opportunity Economy,’ Criticizes Trump’s Tax Proposals
Harris Promises to Create ‘Opportunity Economy’ and Criticizes Trump’s Tax Policies Democratic presidential nominee Kamala Harris introduced her economic agenda in Raleigh, North Carolina, promising to build an “opportunity economy” that prioritizes the middle class. In her speech, Harris emphasized that salaries should provide a good quality of life, advocating for the elimination of poverty and ensuring dignity in retirement and the right to unionize.
To address the high cost of living, Harris outlined her plan to cut unnecessary bureaucracy, investigate anti-competitive practices in the food industry, and propose a federal ban on price-gouging. She highlighted a recent federal report showing inflation below 3% for the first time since March 2021, but noted that prices remain high and big food companies are seeing record profits.
“We need to take action against companies that aren’t playing by the rules,” Harris said. “Many businesses are contributing positively to our economy, but when they don’t, it’s our job to step in.”
Harris’s remarks come ahead of next week’s Democratic National Convention in Chicago, where more details about her economic plans are expected. North Carolina, a key battleground state, has seen Harris visit 16 times as vice president. The state, which Barack Obama narrowly won in 2008, is considered crucial for the 2024 election.
In her speech, Harris drew on her personal experience working at McDonald’s and her tenure as California’s attorney general, where she focused on lowering drug prices and addressing predatory lending. She pledged to tackle America’s housing shortage by building 3 million new, affordable homes by the end of her first term, ensuring they benefit working and middle-class Americans rather than just investors.
Harris also proposed a $25,000 grant for first-time homebuyers and a tax plan that would provide over 100 million Americans with tax cuts, including a return of the earned income tax credit, child tax credit, and a $6,000 tax credit for new parents.
In contrast, Harris criticized Donald Trump’s tax proposals, specifically the FairTax plan, which she argues would lead to higher taxes for many Americans and provide significant tax cuts to billionaires and corporations. “Trump’s plan would cut corporate taxes by over $1 trillion and add to the national deficit,” she said. “It’s clear who he fights for—look at who benefits from his policies.”
