Exclusive – Harris to release new economic proposals this week on US wealth creation, sources say By Reuters
Written by Nandita Bose
WASHINGTON (Reuters) – U.S. Vice President Kamala Harris plans to unveil a set of new economic policies this week aimed at helping Americans build wealth and putting economic incentives in place for businesses to support that goal, three sources with knowledge of the matter said.
Harris, speaking to reporters on Sunday after Reuters reported on the expected launch, said he would outline his views on the economy in a speech this week.
The new policies, which were not previously reported and will be announced in Pittsburgh on Wednesday, come as undecided voters continue to ask for more information about how Harris will help them on the economy if he is elected president in November, including those in sensitive areas. , sources said.
The release will follow a heated debate in Democratic circles over whether releasing more economic policies so close to election day is a smart move.
“It’s not just about affordability, but it’s also about showing (voters) that they have a way to build wealth,” said one of the sources with direct knowledge of Harris’ economic plans, adding that he wants to show Americans “how to get in.” The door.”
None of the sources would provide specific details on the expected new policies, and the Harris campaign would not comment on any new proposals. However, Harris’ 2020 presidential run and President Joe Biden’s administration include plans with similar goals.
In his 2020 campaign, Harris has proposed a pay raise for millions of public school teachers, forcing companies to disclose their gender pay gap and punish those who don’t reduce it. The Biden and Harris administrations are pushing to end the housing test bias and use more than $700 billion in federal contract funding to support small businesses.
Harris released a basket of economic policies that focused on higher housing costs, taxes, small business costs, child care and supplies. His plans often build on Biden’s policies, such as expanding the child tax credit and raising the corporate tax rate to 28%.
Campaign spokesman James Singer told Reuters that Harris “will continue to deliver on his economic agenda to lower costs, make housing more affordable, and promote economic growth across America.”
Releasing new economic policy less than 50 days into a tight presidential race could mean the new measures are not reaching key voters, some advisers agree.
“Normally, you see a campaign that wraps up with voter solicitation in September and moves on to mobilizing people, but this is not a normal campaign,” said a source familiar with the new plans, talking about Harris’ jump to the top. in late July. “We have to keep persuading and bringing people together until the end.”
Republican Donald Trump’s economic proposals aimed at working-class Americans include ending the tip tax and Social Security benefits, opening up federal housing to housing and deporting millions of immigrants who Republicans say are driving up costs.
The former president has also proposed new across-the-board tariffs on non-US made goods that would increase costs for American consumers and inflation, but that is supported by a narrow majority of voters.
Trump has tried to emphasize the Democrats’ inflation that has emerged around the world as the shutdown of the COVID-19 pandemic eases and has made the still high cost of food, especially bacon, a staple of the rally speech. From 2019 to 2023, the Food Consumer Price Index will increase by 25%, says the US Department of Agriculture.
HARRIS BENEFITS FROM THE ECONOMY
Republicans have traditionally polled better on the economy than Democrats, and Trump beat Biden and then Harris in the primary earlier this year.
Other polls, however, are shifting in his direction.
A Financial Times-Michigan Ross poll this month showed 44% of registered voters trust Harris’ economic leadership compared to 42% who support Trump, while a Reuters/IPSOS poll in August showed him narrowing the economic gap.
The Federal Reserve’s decision to cut interest rates by half a percentage point last week, reflecting the belief that inflation risks have subsided, may reduce other costs for consumers.
Some supporters of Harris urged the campaign to repeat the economic message that has already been released instead of presenting new ideas.
“My recommendation is to do more demonstrations. Instead of dealing with this with endless white papers, go to grocery stores and apartment buildings and so on,” said Donna Brazile, a Democratic Alliance strategist.
“There may be inflation, but the cost of living has not changed. Some of this is post pandemic and that has yet to be fixed,” he said.
Some believe that more economic policy is not a priority. Adam Newar, a fund manager and donor to Harris, said it was a “character election” not a policy election.
“I’m not sure what other policy information she brings to the table. She really has to continue to put forward a vision, convey that vision to people who feel like they’ve been left behind,” Newar said.
Many of Harris’ proposals will need to be approved by Congress, and will not pass unless Democrats win both the House and the Senate.
