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Kamala Harris economic plan to focus on groceries, housing and healthcare Kamala Harris economic plan to focus on groceries, housing and healthcare
(about 3 hours later)
Democratic nominee to draw with contrast with Trump on tax and tariffs when she lays out details on Friday, aides sayDemocratic nominee to draw with contrast with Trump on tax and tariffs when she lays out details on Friday, aides say
Kamala Harris’s economic agenda will focus on lowering the cost of groceries, housing and healthcare, bolstering the child tax credit and drawing a contrast with Donald Trump on tariffs and taxes, aides and advisers told Reuters on Wednesday. Kamala Harris will announce plans to tackle high grocery costs by targeting corporations in the food and grocery industry, as she previews her economic agenda ahead of the November election.
Harris is expected to lay out some details of her economic plan in a speech in North Carolina on Friday that will touch on lowering costs and “price gouging”. She will also tackle prescription drug and housing costs, drawing a contrast with Trump on tariffs and taxes, according to a Harris campaign statement.
Harris is expected to lay out some details of her economic plan in a speech in North Carolina on Friday.
“Same values, different vision,” said one aide, describing how Harris’s economic agenda will compare with that of Joe Biden, who stepped aside as the Democratic presidential candidate last month.“Same values, different vision,” said one aide, describing how Harris’s economic agenda will compare with that of Joe Biden, who stepped aside as the Democratic presidential candidate last month.
“She’s not moving far away from him on substance, she will highlight the ones that matter most to her.”“She’s not moving far away from him on substance, she will highlight the ones that matter most to her.”
The Guardian contacted the Harris campaign for comment. In July, inflation fell to below 3% for the first time in nearly three and a half years, the labor department said on Wednesday, but high prices of groceries and consumer goods remain well above their pre-pandemic levels, and are front of mind for voters. In July, inflation fell to below 3% for the first time in nearly three and a half years, the labor department said on Wednesday, but high prices of groceries and consumer goods remain well above their pre-pandemic levels, and are front of mind for voters.
Harris cares a lot about “pocketbook issues for working families, in particular those with small kids”, one adviser told Reuters. Harris was a champion of the child tax credit, which reduces the tax burden for lower-income families. Among the plans from the Harris campaign is a federal ban on price-gouging in the industries. Most states currently have such bans in place. The ban will apply to corporations in the food and grocery industries, stopping them “from unfairly jacking up prices on consumers”.
“She’s going to embrace that,” the adviser said. Harris will single out meat prices, and in particular the meat-processing industry. Her first 100 days will also see support for small businesses, a “crack down on unfair mergers and acquisitions” among food corporations.
The Trump campaign has been mulling new tax cuts for middle-class households, and has proposed eliminating taxes on tipped wages – something Harris also recently said she supported. Trump has repeatedly claimed, without evidence, that the Democrats want to ban red meat. Speaking in Pennsylvania on 31 July, he said that Harris wants to “get rid of your cows” and wants to “slash consumption of red meat”.
In a campaign speech in Asheville, North Carolina, on Wednesday, Trump said, without evidence, that a Harris presidency would lead to the crash that preceded the Great Depression. The eight largest single-day net drops in the Dow Jones industrial average occurred during Trump’s administration.
Harris is to unveil her policies in a week of good news for the Biden-Harris administration, as inflation slowed to its lowest in over three years.
The Harris campaign has so far centred healthcare and abortion rights, with the first campaign ad focused on gun violence, reproductive freedom, child poverty and affordable healthcare.The Harris campaign has so far centred healthcare and abortion rights, with the first campaign ad focused on gun violence, reproductive freedom, child poverty and affordable healthcare.
The move represents an effort to meet voters’ biggest concerns with policies that have had to be pulled together quickly in the few weeks since Harris emerged as the Democratic candidate. A poll this week found that 42% of voters trust Harris on economic issues – one percentage point ahead of Trump. The poll was conducted by the Financial Times and the University of Michigan. Harris no longer supports measures from her short-lived 2020 presidential bid such as a fracking ban or Medicare for All, advisers told Reuters. Not all of the elements of Harris’ economic agenda will make it to the Friday speech, a draft of which is still in the works. Her campaign said it wanted to avoid dividing voters and attracting attacks from business groups over granular details, and will be “strategically ambiguous” in areas such as energy.
Harris no longer supports measures from her short-lived 2020 presidential bid such as a fracking ban or Medicare for All, advisers said. Not all of the elements of Harris’ economic agenda will make it to the Friday speech, a draft of which is still in the works. Her campaign said it wanted to avoid dividing voters and attracting attacks from business groups over granular details, and will be “strategically ambiguous” in areas such as energy.
She will push plans to cut costs of rental housing and home ownership, including funding more affordable housing and building climate resistant communities.She will push plans to cut costs of rental housing and home ownership, including funding more affordable housing and building climate resistant communities.
“She does have a focus on housing because we know and she knows very, very clearly that housing is a crisis in this country,” said Marcia Fudge, a Harris adviser and the former housing and urban development secretary under Biden. “She does have a focus on housing because we know and she knows very, very clearly that housing is a crisis in this country,” said Marcia Fudge, a Harris adviser and the former housing and urban development secretary under Biden.
Harris will also draw contrasts with Trump on tax policy and tariffs and maintain Biden’s promise not to raise taxes on people who make $400,000 or less a year, advisers said. Trump slashed the corporate tax rate from 35% to 21% and implemented other tax breaks that are set to expire next year.Harris will also draw contrasts with Trump on tax policy and tariffs and maintain Biden’s promise not to raise taxes on people who make $400,000 or less a year, advisers said. Trump slashed the corporate tax rate from 35% to 21% and implemented other tax breaks that are set to expire next year.
Trump has promised to make the tax cuts permanent and suggested new, across-the-board tariffs on imports, an idea Harris rejects. Trump’s campaign on Wednesday tied Harris to Biden’s economic record. In his Asheville speech, which was billed as an address on the economy, he veered off topic, saying his advisers had wanted him to focus on economic concerns. He was “not sure”, however, that the economy is the most important issue of the election, he said. The Trump campaign has been mulling new tax cuts for middle-class households, and has proposed eliminating taxes on tipped wages – something Harris also recently said she supported.
Trump has promised to make the tax cuts permanent and suggested new, across-the-board tariffs on imports, an idea Harris rejects.
In a campaign speech in Asheville, North Carolinawhich was billed as an address on the economy, Trump veered off topic, saying his advisers had wanted him to focus on economic concerns. He was “not sure”, however, that the economy is the most important issue of the election, he said.
Trump used a “travel-sized” box of Tic Tacs to make a point about inflation.Trump used a “travel-sized” box of Tic Tacs to make a point about inflation.
“This is Tic Tacs,” he said, holding up a standard-sized box of the mints. “This is inflation,” he said, holding up the smaller box. He called it the “greatest commercial they ever had”.“This is Tic Tacs,” he said, holding up a standard-sized box of the mints. “This is inflation,” he said, holding up the smaller box. He called it the “greatest commercial they ever had”.
The Guardian contacted Ferrero, the company that makes Tic Tacs, for comment.The Guardian contacted Ferrero, the company that makes Tic Tacs, for comment.
Trump spokesperson Karoline Leavitt told Reuters: “America cannot afford another four years of Kamala’s failed economic policies. President Trump has a proven track record of making this country prosperous and affordable, and Americans can trust him to put more money back in their pockets again.”Trump spokesperson Karoline Leavitt told Reuters: “America cannot afford another four years of Kamala’s failed economic policies. President Trump has a proven track record of making this country prosperous and affordable, and Americans can trust him to put more money back in their pockets again.”
Biden was briefed on the economy on Thursday by the US treasury secretary Janet Yellen, commerce secretary Gina Raimondo, national economic adviser Lael Brainard and others. “The group discussed the resilience of the US economy, with inflation falling below 3%, strong business investment and consumer spending, and a healthy job market,” according to a pool report.Biden was briefed on the economy on Thursday by the US treasury secretary Janet Yellen, commerce secretary Gina Raimondo, national economic adviser Lael Brainard and others. “The group discussed the resilience of the US economy, with inflation falling below 3%, strong business investment and consumer spending, and a healthy job market,” according to a pool report.
Reuters contributed reportingReuters contributed reporting