Article Summary –
Kamala Harris, during a campaign event in Pittsburgh, outlined her economic plans focusing on strengthening the middle class by increasing job opportunities in both traditional and emerging industries, banning corporate price gouging, expanding support for entrepreneurs, and providing more tax benefits and financial assistance to families. Contrasting her policies with those of Donald Trump, she emphasized her dedication to industrial growth, doubling registered apprenticeships, and eliminating unnecessary degree requirements for federal jobs, while also proposing significant tax deductions and low-interest loans for startups. Additionally, Harris aims to provide substantial financial support to families, including down payment assistance for first-time home buyers, increased tax credits for parents, and measures to lower the costs of childcare and elder care.
Vice President Kamala Harris pledged during a Pittsburgh campaign event on Sept. 25 to strengthen the middle class and reduce costs for struggling families.
In a speech detailing the Democratic economic plans, Harris promised job growth in traditional and emerging industries, a ban on corporate price gouging, more support for entrepreneurs, additional tax benefits for parents, and financial help for first-time home buyers.
“We need to grow our middle class and ensure our economy works for everyone,” Harris said at the Economic Club of Pittsburgh.
Harris’s visit to the swing state comes as her poll numbers rise, crucial for the Nov. 5 election. She contrasted her middle-class background and policies with those of former President Donald Trump, who favors the wealthiest Americans.
Trump’s economic plans include trillions of dollars in new tariffs on imports and corporate tax cuts, adding trillions to the national debt and harming working families.
“America faces a choice between two fundamentally different economic paths,” Harris said. “I want to grow America’s middle class. Trump wants to revert to failed policies of the past.”
Investing in Industry
Building on President Biden’s support for industrial jobs, including thousands of energy jobs in Pennsylvania, Harris plans to invest in biomanufacturing and aerospace engineering, and expand clean energy and manufacturing.
She proposed tax credits for employers expanding “good union jobs in steel, iron, and manufacturing communities.” Harris aims to double registered apprenticeships and eliminate unnecessary degree requirements for federal jobs.
Tax Deductions for Entrepreneurs
Harris plans to increase the tax deduction for startups from $5,000 to $50,000 and expand low- and no-interest loans for small businesses wanting to grow.
“Entrepreneurs often lack access to capital despite having great ideas and willingness to take risks. We can make it easier for them to access capital,” Harris said.
Financial Support for Families
As Americans struggle with housing costs and child expenses, Harris proposed $25,000 in down payment assistance for first-time home buyers and a $6,000 tax credit for parents with newborns, lower childcare and eldercare costs, and access to paid leave.
“Caregiving is about dignity. Lowering costs and easing burdens makes it easier for people to work and pursue their economic aspirations,” Harris noted.
Banning Corporate Price Gouging
With inflation cooling and food prices dropping, Americans remain concerned about consumer goods costs. Harris blamed corporations for excessively raising prices and proposed a federal ban on corporate price gouging and a cap on prescription drug costs, similar to measures for seniors.
U.S. Sens. Bob Casey and Elizabeth Warren have advocated for a ban on corporate price gouging, introducing the Price Gouging Prevention Act to create a federal ban on excessive price increases, enforceable by the Federal Trade Commission and state attorneys general.
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