Vice President Harris outlined her economic plan at a campaign rally in North Carolina on Friday, calling her policies a way to create an “opportunity economy.”
“Together, we will build what I call an opportunity economy,” Harris said at a rally in Raleigh, “an economy where everyone can compete and have a real chance to succeed. No matter who you are or where you start, everyone has the opportunity to build wealth for themselves and their children.”
The event was held to promote economic proposals released this week by her campaign, which has said it will be a priority for her first 100 days in office.
The proposals include a federal ban on price gouging that would prompt the Federal Trade Commission and state attorneys general to investigate how companies are inflating prices and exploiting consumers for profits, a plan to help end the housing shortage through new home construction and provide down payment assistance to first-time homebuyers, and an expansion of the child tax credit.
The Trump campaign blasted the policy on Friday, arguing that it is similar to socialist policies implemented in countries such as Cuba and Venezuela and would not effectively reduce costs for consumers. They specifically criticized the price gouging ban as akin to government price controls.
“I will focus on reducing unnecessary bureaucracy and regulatory complexity while protecting consumers, and creating a stable business environment with consistent and transparent rules,” Harris said.
“The key to creating this opportunity economy is building the middle class. This is essential,” she added.
The economy was a sticking point for Biden when he was the Democratic front-runner, and Harris has been gaining momentum in the campaign since she entered the race, looking to go on the offensive on the economy with her own proposals.
The Trump campaign has sought to link Harris to the Biden administration’s policies, pointing out that she served as vice president throughout Biden’s tenure.
The price hike plan immediately sparked controversy. The Washington Post An opinion piece titled, “If they call you a ‘Communist,’ maybe you shouldn’t propose price controls?”
Harris defended the plan, arguing that her proposals would help small food businesses that are trying to comply with the rules and make the food industry more competitive.
“Prices are still too high,” Harris said Friday. “While many grocery chains are passing these savings on to customers, some are not. We know most businesses are creating jobs, contributing to the economy and following the rules, but some are not. That’s wrong, and we need to take action.”
She criticized President Trump’s economic plan, saying it would “effectively” impose a “national sales tax” on essential goods imported from overseas.
“It would be a devastating blow to the American people. It would mean higher prices for just about everything we need for daily life: a Trump tax on gas, a Trump tax on food, a Trump tax on clothing, a Trump tax on over-the-counter drugs,” she argued.
During his first administration, President Trump imposed tariffs on China, pledging to impose a 60% tariff on all Chinese products, a 100% tariff on cars manufactured outside the United States, and a 10% tariff across the board on all foreign products.
Harris also criticized Trump for wanting to give tax cuts to billionaires and corporations.
President Trump has proposed further cuts to the corporate tax rate after lowering it to 21% in the Tax Cuts and Jobs Act of 2017. President Trump has said he wants to make all of the “Trump tax cuts” permanent and lower the corporate tax rate to 20%.
“If you want to know who cares about who, look at who they’re fighting for,” Harris said at the rally.
