CHICAGO — An ally of Vice President Kamala Harris in the business community privately advised the CEO on why he should support former President Donald Trump, according to people familiar with the matter.
At private parties and meetings during the Democratic National Convention, corporate executives close to Harris told CNBC that he is sending a message that resonates with major players in finance, technology and law.
He said a Harris presidency would be good for business because he wants to create a strong economy that will help the middle class. He also made the case that a Harris administration would give businesses a level of certainty about public policy that would be absent in a Trump White House, these people said.
Individuals participating in this effort are granted anonymity to describe private conversations.
At a party on Tuesday for tech executives and New York Democratic lawmakers, the conversation was partly about how to sway major players in tech to support Harris, including those closer to the GOP than to Democrats. Among the guests was Senate Majority Leader Chuck Schumer, DN.Y.
The shindig is at Chicago’s Bunker., organized by Tech:NYC, the tech industry group that presents the list Bloomberg, Google, MetaUnion Square Ventures and Yahoo are founding members.
Another topic that came up often this week was what positions to fill in a potential Harris administration.
Sen. Kirsten Gillibrand, DN.Y. approached businessman and long-time Harris ally Charlies Phillips was at The Peninsula Chicago hotel, and told him he thought he should post in the Finance Department of Harris.
While there is speculation about a possible Treasury secretary in the Harris administration, one of the names being discussed in Harris’ circle at the convention this week is JPMorgan Chase CEO Jamie Dimon, according to people familiar with the matter.
A spokeswoman for JP Morgan Chase did not respond to a request for comment on the speculation.
Any support from the CEO could give another boost to Harris’s already growing campaign war effort. Harris’ campaign raised more than $200 million in July and had nearly $220 million on hand through August, according to new Federal Election Commission records.
Harris fundraiser and former Evercore vice chairman Charles Myers held a briefing for about 60 CEOs and CFOs Tuesday at the University of Chicago Booth School of Business, according to attendees.
The panel featured Harris campaign adviser Gene Sperling and Rebecca Patterson, a former investment strategist at investment giant Bridgewater Associates, according to this person.
“The panel’s message is that Trump’s economic plan of higher rates and undermining the independence of the Fed will undermine” trade deals established between the US and its allies, this person said.
Trump has said that when he returns to the White House, he will seek a minimum tariff of 10% on goods from around the world. He also said the president “should at least have a say” in setting interest rates, a potential challenge to the Federal Reserve’s independence.
The same panel was chaired by Blackstone vice chairman Tom Nides, according to participants. It featured Commerce Secretary Gina Raimondo and former commerce secretary Penny Pritzker.
Harris is “more interested in working with business and labor together,” Pritzker said during a separate Bloomberg event at the convention. “Corporate America is curious and open and interested in working with him, and he’s going to get that opportunity.”
A lobbying campaign was launched to gain corporate support for Harris after her campaign launched Harris’ economic policy plan last week.
The plan includes a goal of creating 3 million new affordable housing units, implementing a federal ban on “price gouging” in the grocery industry, and also a $6,000 tax credit for families with infants.
The Committee for a Responsible Federal Budget estimates that Harris’ plan will increase the deficit by $1.7 trillion over the next 10 years, the nonprofit budget hawks said in a new report.
Following the report, Harris proposed raising the corporate tax rate from 21% to 28% to help pay for the proposal.
Strategists and Democrats in Congress know very well that to realize Harris’s economic plan, Democrats must have majority control in the House and Senate.
Helping Democrats flip the House is the Democratic Congressional Campaign Committee’s fundraising goal on Tuesday.
There, lawmakers told potential donors that if they hope to see Harris’ plan become a reality, they must help Democrats retake the House, according to people who were at the meeting.
