Vice President Kamala Harris at an event hosted by the Pittsburgh Economic Council on the Carnegie Mellon University campus. (Photo/Gene J. Puskar/AP)
By Karen Stokes
Vice President Kamala Harris laid out her economic agenda Wednesday at Philip Chosky Theatre, Carnegie Mellon University hosted by the Economic Club of Pittsburgh.
The speech focused on cutting costs for middle-class families, boosting innovation and small business, and the contrast between her plan with that of Donald Trump.
“The campaign sees an opening to shrink Trump’s edge on the economy in voters’ eyes as many Americans get to know the vice president,” a senior official said.
The Vice President’s speech focused on three main economic pillars: reducing costs through tax breaks and combating price gouging; investing in innovative firms in manufacturing, energy, aerospace, and technology; and cutting red tape to facilitate home construction and the launch of new small businesses.
Among Harris’ proposals was a tax cut for 100 million Americans, along with a commitment that no one earning under $400,000 per year would see an increase in taxes. She also proposed a $6,000 tax credit for families during a child’s first year and a $3,600 tax credit per child for working families.
Additionally, the Vice President reiterated her proposal for a $50,000 tax deduction for new small businesses, an increase from the current $5,000, and a $25,000 assistance program for first-time homebuyers to help with down payments. She also promised to work on lowering prescription drug prices for everyone, not just the elderly.
“We have an extraordinary opportunity to make our middle class the engine of America’s prosperity, to build a stronger economy where everyone everywhere has a chance to pursue their dreams and aspirations, and to ensure the United States of America continues to out-innovate and out-compete the world.” Harris said.
“Not only must we build the industries of the future in America, but we must also build them faster. The simple truth is, in America, it takes too long and costs too much to build,” she said. “In America, it takes too long, and it costs too much to build. China is not moving slowly, and we can’t afford too either. Patience might be a virtue but not when it comes to job creation.”
Harris gained some high-profile support from Mt. Lebanon native and billionaire venture capitalist, Mark Cuban who attended the speech.
“I’m from Pittsburgh, so meeting with and talking to a bunch of people and, you know, taking pictures, signing autographs and doing what I need to do,” Cuban said of his role boosting the Democratic nominee over former President Donald Trump in an interview in The Daily Mail on Wednesday.
“From the very beginning of this campaign, Vice President Harris has been clear: she is not taking a single voter for granted, and she will put in the work needed to earn every single vote. Creating an Opportunity Economy that builds on the historic progress made by the Biden-Harris Administration for Black America, does just that. According to our recent polling, Black voters’ economic priorities include reducing costs and increasing wealth. The Vice President’s Opportunity Economy agenda speaks directly to these economic priorities and will be especially important for earning the votes of undecided Black voters,” said Terrance Woodbury of HIT Strategies, Team Harris-Walz Black Voter Polling Firm.
“I want to chart a new way forward and grow America’s middle class,” she said. “Donald Trump intends to take America backward. To the failed policies of the past.”
Trump’s advantage on handling the economy has shrunk since Harris replaced President Joe Biden as his opponent, according to NBC News polling. In a January poll, Trump led Biden by 22 points when it came to dealing with the economy. But a new September poll released Sunday found Trump leading Harris by a narrower 9 points on dealing with the economy.