After Vice President Kamala Harris’ new economic policy proposal was recently announced during a campaign rally, some members of the Democratic Party faced criticism on Sunday about the plan.
Harris, the presumptive Democratic nominee, took the stage at a rally in the swing state of North Carolina on Friday as he introduced several proposals aimed at reducing the cost of groceries, the housing market and other essential items. The vice president’s plan includes tax cuts, federal restrictions on price gouging by food manufacturers and down payment assistance for first-time home buyers.
“As president, I will take on the high costs that are most important to most Americans, such as the cost of food,” he said. “We all know that prices go up during the pandemic when the supply chain shuts down and fails. But the supply chain is improving and prices are still very high.”
The economy has become a major issue for voters as Harris and former President Donald Trump, the GOP candidate, aim to address the issue. Trump, who spoke about his economic proposals at a rally Wednesday in North Carolina, said he would broaden his stance on tariffs on foreign countries as he criticized Harris’ proposal on Thursday, comparing it to “Maduro-esque price controls” that are damaging Venezuela’s economy.
Trump’s response comes as Harris has received criticism for promising to cap prices as a way to tackle inflation as economists warn the plan could backfire, and likely not solve the problem.
Newsweek has reached out to the Harris campaign via email for comment.
In an interview appearance on Sunday on NBC News’ Meet The PressDemocratic Michigan Governor Gretchen Whitmer was asked by host Kristen Welker if Harris’ plan to ban price gouging “is more than a gimmick?” reference to Washington Posteditorial board criticism of the plan.
According to Post‘s opinion column, accused Harris of “less forthright” with voters about the reasons why prices remain, adding that Harris “squandered the moment in populist gimmicks.”
“I think about the values of Kamala Harris that she wants consumers to keep more money in their pockets … We know that we have to grow business in this country … We also know that you can not gouge and harm the American Consumer to implement the basics you and I feel like there’s a balance,” Whitmer said.
Continuing to push, Welker asked, “So you think this is a smart policy?”
Whitmer responded that he thought “any effort made to put more money in the pockets of Americans should be on the way.”
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In an interview view on CBS News’ Facing the NationDemocratic Kentucky Governor Andy Beshear was asked by host Margaret Brennan if he knew how Harris’ plan would work.
“I’m doing it because I’ve been the attorney general like the vice president … it’s not about trying to fix prices. It’s just making the economy work the way it’s supposed to, that it’s really supply and demand,” Beshear said.
However, Brennan noted Republican criticism accusing Harris of advocating price controls like those in communist countries and asked Beshear to explain “how do you set a price that’s too high if you don’t have a benchmark?”
Beshear answered: “First of all, this is a type of statute that is in the law of the country … It has to be based on evidence. Ultimately, you do something, and you have to prove in court. evidence that this exceeds the demand for supply – this is the person who takes advantage of us.”
On display on CNN State of the UnionHouse Minority Leader Hakeem Jeffries doubled down on Democratic support for Harris’ economic plan, calling it “a very important plan to make sure we lower costs for everyday Americans.”
CNN host Jake Tapper then asked, “Is that part of the problem when it comes to high prices and inflation, the fact that you and your friends on Capitol Hill, along with President Trump and Biden, have infused the economy with maybe a lot of cash. because of the pandemic?”
In response, Jefferies pointed to challenges “inherited” from the former president, adding that one of those challenges was price gouging.
“You can say that part of the challenge that many Americans feel every day is that price increases are happening by some bad actors and it’s enough for us to see how we can prevent that from happening. Harris just said that we have to make sure that the market works properly ,” the House minority leader said.
Meanwhile, when asked by ABC News’ This week host Martha Raddatz that Democratic Illinois Senator Tammy Duckworth is “comfortable” with Harris’ economic proposals that could increase the federal deficit, Duckworth said, “I’m comfortable with that because what we need to do is get rid of Trump’s tax cuts. for the rich… It’s all about balancing things out.”
Among the biggest policy ideas floated by Trump is the extension of the 2017 Tax Cuts and Jobs Act (TCJA), which will now expire in 2025. When it was first implemented in the presidency in 2017, it created a single flat corporate tax. rate of 21 percent.
