After Vice President Kamala Harris recently unveiled her new economic policy proposal at a campaign rally, several members of the Democratic Party faced criticism of her plan on Sunday.
Harris, the presumptive Democratic nominee, took the stage at a rally in the swing state of North Carolina on Friday and unveiled several proposals aimed at lowering the cost of groceries, the housing market and other essentials. The vice president’s plan includes tax cuts, a federal ban on price gouging by food manufacturers and providing down payment assistance to first-time home buyers who qualify.
“As president, I will address the high costs that matter most to most Americans, like the cost of food,” she said. “We all know that prices went up during the pandemic as supply chains shut down and failed. But our supply chains have improved, and prices are still too high.”
The economy has become a key issue for voters as Harris and former President Donald Trump, the Republican nominee, seek to address the issue. Trump, who spoke about his economic policy proposals at a rally in North Carolina on Wednesday, said he would expand his stance on tariffs on foreign countries as he criticized Harris’ proposal on Thursday, comparing it to “Maduro-style price controls” that have crippled the Venezuelan economy.
Trump’s reaction comes as Harris faces criticism for promising to crack down on price gouging to fight inflation. Economists warned the plan could backfire and is unlikely to address the underlying problems of price gouging.
Newsweek has emailed Harris’ campaign team for comment.
In an interview on Sunday on NBC News’ Meet the pressMichigan Democratic Governor Gretchen Whitmer was asked by moderator Kristen Welker whether Harris’ plan to ban price gouging was “more than a ploy”? a reference to The Washington PostEditorial criticism of the plan.
According to the postIn her opinion column on Friday, she accused Harris of being “less candid” with voters about the reasons for holding prices, adding that Harris had “wasted time on populist gimmicks.”
“I think it’s consistent with Kamala Harris’ values that she wants consumers to keep more money in their pockets… We know we need economic growth in this country… We also know that you can’t exploit and harm the American consumer to increase profits, and I think there’s a balance there,” Whitmer said.
Welker continued to insist on his statement and asked: “So you think this is a smart policy?”
Whitmer responded that she believes “any effort we make to keep more money in the pockets of Americans is worth taking that path.”
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In an interview with CBS News’ Face the nationKentucky Democratic Governor Andy Beshear was asked by moderator Margaret Brennan if he knew how Harris’ plan would work.
“I do, because I was attorney general, as was the vice president. This is not about fixing prices. This is just about making sure that the economy works the way it should, that it really is about supply and demand,” Beshear said.
However, Brennan pointed to criticism from Republicans who accuse Harris of advocating price controls like those in communist countries and asked Beshear to explain: “How do you define an excessive price if you don’t have a benchmark?”
Beshear responded: “First of all, there are laws like that in state law… It has to be based on evidence. Ultimately, you’re bringing a lawsuit and you have to prove it in court. So you have to have evidence that this goes beyond supply and demand – that people are taking advantage of us.”
During an appearance on the CNN show On the state of the nationHouse Minority Leader Hakeem Jeffries reiterated Democrats’ support for Harris’ economic plan, saying it is a “very important plan that will ensure that we lower costs for the average American.”
CNN host Jake Tapper then asked, “In terms of high prices and inflation, is part of the problem that you and your colleagues on Capitol Hill and President Trump and Biden may have injected too much cash into the economy because of the pandemic?”
In its response, Jefferies pointed to the challenges the company “inherited” from the former president, adding that one of those challenges was price gouging.
“It’s fair to say that part of the challenge that many Americans are feeling on a daily basis is that some bad actors are engaging in price gouging, and it makes sense for us to look at how we can stop that. Harris is simply saying that we need to make sure that the markets are working properly,” said the House minority leader.
When asked by ABC News’ This week When asked by moderator Martha Raddatz whether Democratic Illinois Senator Tammy Duckworth was “comfortable” with Harris’ economic proposals that could potentially increase the budget deficit, Duckworth said, “I’m OK with that, because what we need to do is repeal the Trump tax cuts for the rich… This is about balancing things out.”
One of Trump’s key policy ideas is extending the 2017 Tax Cuts and Jobs Act (TCJA), which is currently set to expire in 2025. When the act was first passed under his presidency in 2017, it introduced a flat corporate tax rate of 21 percent.
