Vice President Harris outlined her economic plan at a campaign rally in North Carolina on Friday, calling her agenda a way to create an “opportunity economy.”
“Together, we will build what I call an opportunity economy,” Harris said at the rally in Raleigh. “An economy where everyone can compete and have a real chance to succeed. Everyone, regardless of who they are, where they start, has an opportunity to build wealth for themselves and their children.”
The event was held to promote the economic proposals her campaign unveiled this week, which it says would be a priority for her first 100 days in office.
The proposals include a federal ban on price gouging that would push the Federal Trade Commission and state attorneys general to investigate how corporations exploit consumers by raising prices for profit, a plan to end the housing shortage through the construction of new units and to provide down-payment support to first-time homebuyers, and a plan to expand the child tax credit.
Trump’s campaign bashed the agenda Friday, equating it to socialist policies implemented in countries such as Cuba and Venezuela and arguing it would not effectively reduce costs for consumers. It was particularly critical of the ban on price gouging, equating it to government-imposed price controls.
“I will focus on cutting needless bureaucracy and unnecessary regulatory red tape … while protecting consumers and creating a stable business environment with consistent and transparent rules of the road,” Harris said.
“The key to creating this opportunity economy is building up our middle class. It is essential,” she added.
The economy had been a tough issue for President Biden when he was the presumptive Democratic nominee. Harris, with her proposals, is seeking to go on offense on the issue as her campaign has built momentum since Biden withdrew and she entered the race.
The Trump campaign has sought to tie Harris to the Biden administration’s policies, noting she served as vice president for the entirety of Biden’s White House term.
The plan on price gouging has immediately sparked some debate, with a Washington Post opinion piece stating, “when your opponent calls you ‘communist,’ maybe don’t propose price controls?”
Harris defended the plan, arguing her proposal would support smaller food businesses that are trying to play by the rules and would help the food industry become more competitive.
“Prices are still too high,” Harris said Friday. “While many grocery chains pass along these savings, others still aren’t. Look, I know most businesses are creating jobs, contributing to our economy and playing by the rules, but some are not, and that just is not right. And we need to take action when that is the case.”
She hit Trump over his economic plan, saying his plan would “in effect” impose a “national sales tax” on necessities imported from abroad.
“That will devastate Americans. It will mean higher prices on just about every one of your daily needs. A Trump tax on gas, Trump tax on food, a Trump tax on clothing, a Trump tax on over-the-counter medication,” she argued.
Trump levied tariffs against China during his first administration and has vowed to enact a 60-percent tariff on all Chinese products, a 100-percent tariff on cars made outside the U.S. and a 10-percent tariff on all foreign products across the board.
Harris also criticized Trump for wanting to give billionaires and corporations tax cuts.
Trump has floated further cuts to the corporate tax rate after his 2017 Tax Cuts and Jobs Act lowered the corporate tax rate to 21 percent. He has said he wants to make all “Trump tax cuts” permanent and bring the corporate tax rate down to 20 percent.
“I think if you want to know who someone cares about, look who they fight for,” Harris said at the rally.