Updated September 25, 2024 at 19:53 PM ET
Vice President Harris gave the lengthiest economic speech of her campaign on Wednesday, describing what she called a “pragmatic” vision that would work with the private sector to help grow opportunities for the middle class.
In Pittsburgh — a city known for its steel industry in a state seen as key to the upcoming presidential election — Harris talked about plans to invest in new technologies like artificial intelligence and blockchain, as well as ideas to double the number of apprenticeships and reform tax laws to make it easier to create profit-sharing plans.
“I believe we shouldn't be constrained by ideology, and instead should seek practical solutions to problems, realistic assessments of what is working and what is not, applying metrics to our analysis,” Harris said.
Harris affirmed her intention to support labor unions if she became president, but also work with the private sector and entrepreneurs.
Harris would give tax credits to sectors she wants to see grow
Harris has previously laid out ideas to cut costs for housing and families and give incentives to small businesses.
On Wednesday, she said she is concerned that it takes too long to start new projects in the United States compared to China — and would crack down on dumping, unfair subsidies and counterfeits from China.
“I will never hesitate to take swift and strong measures when China undermines the rules of the road at the expense of our workers, our communities, and our companies,” she said.
Harris’ speech was long on vision and short on details — her campaign has said it believes voters are less interested in hearing intricate policy proposals than they are about Harris' priorities.
She listed sectors where she wants to see growth — biomanufacturing, aerospace, AI, quantum computing, advanced batteries — but also said that her administration would invest in “factory towns” and “agricultural centers.”
Her campaign later said that Harris would propose tax credits for companies investing in those sectors. It also said she would scale up a pilot project in AI research at the National Science Foundation so that more companies could access AI tools.
Harris’ campaign said her plan would cost about $100 billion and would be paid for through international tax reforms.
Harris did not mention the price tag in her speech. Any tax proposals would need approval from Congress, which could be a heavy lift if Republicans win the Senate in November. But in an interview with MSNBC after her remarks, Harris made clear that was the only way to pay for her agenda.
"We're going to have to raise corporate taxes," Harris said in the interview. "We're going to have to make sure that the biggest corporations and billionaires pay their fair share. That's just it," she said.
Trump also gave an economic speech in a swing state this week
With early voting starting, and only 40 days left before Election Day, both Harris and former President Donald Trump are trying to reach undecided voters in swing states. This was Harris' eighth visit to Pennsylvania since she started running for president in July. She spent a few days in Pittsburgh earlier this month while preparing for her debate against Trump.
Harris used her speech to draw a contrast with Trump, painting herself as a product of the middle class while her Republican opponent came from wealth.
"For Donald Trump, our economy works best if it works for those who own the big skyscrapers. Not those who actually build them. Not those who wire them. Not those who mop the floors,” Harris said.
Trump was in Georgia — another battleground state — on Tuesday, and said if elected he would lower the tax rate for manufacturers, cut regulation, hike tariffs on imported goods, and offer federal land to manufacturers.
On Wednesday in Mint Hill, N.C., Trump said Harris’ plan to raise the corporate tax rate — announced previously in her campaign — would drive manufacturing out of the country. He said she could have done more to support manufacturing and wealth creation in her role as vice president.
“She's been there for almost four years, and she didn't do it. She didn't create wealth,” Trump said.
When it comes to the economy, most polls have shown that Trump has had an edge on Harris. But it's a smaller lead on the issue than he had over President Biden.
President Biden focused his economic policy on manufacturing, building on some of Trump's policies by using tariffs and subsidies to try to bring companies back from overseas. But those measures failed to gain traction in polls, which showed voters blamed Biden for the high cost of living.
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