Washington, DC, September 23:
The new economic policies, which will be unveiled this week by U.S. Vice President Kamala Harris, would provide incentives for companies to assist their employees and the country as a whole develop wealth, according to three persons familiar with the matter.
The new policies, which have not been announced before, could be unveiled in Pittsburgh on September 25. This announcement comes as Harris's economic platform is still a mystery to many voters, especially in key swing states, who are still unsure of her presidential candidacy.
Speaking to reporters on September 22nd, following Reuters' news about the scheduled launch, Harris stated that she would be giving a speech this week outlining her economic strategy. She went on to say that the plan's central goal is to help the American people overcome their problems while also investing in their hopes and dreams.
Democrats have been debating whether or not it is a good idea to release new economic plans so near to election day, and this announcement would come after a heated discussion. "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 intimate knowledge of Harris's economic ideas. The source went on to say that she wanted to show Americans how they can "get a foot in the door."
Not only did the Harris team decline to comment on any fresh suggestions, but no source would divulge any particulars of the anticipated new policies. To be sure, President Joe Biden's administration and Harris's 2020 presidential campaign had plans with comparable aims.
Harris, in her 2020 campaign, advocated for massive wage increases for the nation's millions of public school teachers, as well as measures to make businesses reveal their gender pay gap and penalize those that fail to close it. Using the more than $700 billion government contracting budget to support minority firms, the Biden and Harris administration has sought to eradicate bias in house evaluations.
In response to the exorbitant prices of housing, taxes, daycare, small company expenditures, and items, Harris has unveiled a package of economic reforms. Many of her proposals are extensions of Biden's, such as a higher corporation tax rate of 28 percent and an expansion of the child tax credit. No comment was made by campaign spokesman James Singer regarding the story. Harris, according to Reuters, "will continue to present her opportunity economy agenda to lower costs, make housing more affordable, and spur economic growth across America."
A number of advisors have acknowledged the risk that introducing new economic policies with less than half a month to go in a close presidential election could prevent the measures from reaching key voters. A source familiar with the revised plans stated, "Usually, a campaign would finish convincing voters by September and then move on to mobilizing people. However, this is not your average campaign," referring to Harris' sudden rise to the position in late July. "We have to continue persuading and mobilizing folks at the same time until the very end."
To help the middle class and working class, Republican presidential candidate Donald Trump has proposed cutting taxes on gratuities and Social Security payments, allowing the building of new homes on federal land, and expelling the millions of illegal immigrants that Republicans claim are increasing prices. A small majority of people support the former president's plan to impose new taxes on all imported goods, which might lead to higher prices for American consumers and inflation.
The still-high cost of food, especially bacon, has been a rally speech favorite for Trump, who has attempted to pin the inflation on Democrats. Inflation rose globally as the COVID-19 pandemic shutdowns relaxed. The U.S. Department of Agriculture reported a 25% increase in the food Consumer Price Index from 2019 to 2023.
Historically, Republicans have done better in economic polls than Democrats; early this year, Trump even defeated Biden and Harris on the subject. But the tide is turning in her favor in a few polls.
This month, a poll by the Financial Times-Michigan Ross found that 44% of registered voters trusted Harris' economic stewardship, while 42% supported Trump. In August, polling by Reuters/IPSOS revealed that she was closing the gap on the economy.
Some consumers may see a reduction in prices as a result of the Federal Reserve's decision last week to drop interest rates by half a percentage point. This move reflects the idea that inflation concerns have diminished. Instead of introducing fresh economic ideas, some Harris backers have asked the campaign to emphasize the ones that are already out there.
Do more show-and-tells, in my opinion. "Rather than addressing this with endless white papers, go to grocery stores and apartment buildings and more," advised Donna Brazile, a prominent Democratic strategist. Although inflation has decreased, the cost of living remains unchanged. It is still need to address some of this that occurred after the pandemic, she added.
Some think that addressing the economy should not be a top concern. A Harris supporter and financial advisor named Adam Newar stated, "it's a character election" rather than an election about policies. I'm uncertain about the value that further policy details actually offer. Newar emphasized the importance of her perseverance in sharing a vision with those who feel marginalized.
If Democrats do not capture the House and the Senate, many of Harris's initiatives, which would necessitate
