Harris to roll out new set of economic policies this week

FE Team | Published: September 23, 2024 23:54:49

US Vice President Kamala Harris

WASHINGTON, Sept 23 (Reuters): US Vice President Kamala Harris plans to roll out a new set of economic policies this week that aim to help Americans build wealth and set economic incentives for businesses to aid that goal, three sources with knowledge of the matter said.
The new policies, which have not been previously reported and could be announced in Pittsburgh on Wednesday, come as undecided voters continue to ask for more information about how Harris would help them economically if she were elected president in November, including those in critical swing states, the sources said.
Harris, speaking to reporters on Sunday after Reuters reported the expected rollout, said she would outline her vision for the economy in a speech this week.
She added that the plan is about investing in the aspirations and ambitions of the American people while addressing the challenges they face.
The rollout would follow heated debate in Democratic circles over whether releasing more economic policies so close to election day is a smart strategy.
"It's not just about affordability, it's also about showing (voters) they have a path to building wealth," said one of the sources with direct knowledge of Harris's economic plans, adding she wanted to show Americans how they can "get a foot 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 included plans with similar goals.
In her 2020 campaign, Harris proposed significant pay hikes for the millions of public school teachers, forcing companies to disclose their pay gap between men and women and penalizing those who are not narrowing it. The Biden and Harris administration have pushed to eliminate bias in home appraisals and use the over $700 billion federal contracting budget to buoy minority businesses.
Harris has released a basket of economic policies focused on the high cost of housing, taxes, small business expenses, childcare and goods. Her plans often build on Biden's policies, like increasing the child tax credit and lifting the corporate tax rate to 28 per cent.
Campaign spokesman James Singer did not comment on the story. He told Reuters that Harris "will continue to present her opportunity economy agenda to lower costs, make housing more affordable, and spur economic growth across America."
Releasing new economic policy with less than 50 days left in a tight presidential election race could mean the new measures never reach crucial voters, some advisers acknowledge.
"Typically you'd see a campaign wrap up persuading voters by September and move to mobilizing people but this is not a typical campaign," said a source with knowledge of the new plans, referring to Harris' jump to the top of the ticket in late July. "We have to continue persuading and mobilizing folks at the same time until the very end."
Republican Donald Trump's economic proposals aimed at working-class Americans include eliminating taxes on tips and Social Security benefits, opening up federal lands to housing construction and deporting millions of immigrants to the country who Republicans say are driving up costs.