Democrats face criticism over Kamala Harris’ new economic plan

Following Vice President Kamala Harris’ new economic policy proposal she recently announced at a campaign rally, many Democrats faced criticism surrounding her plan on Sunday.

Harris, the Democratic candidate, took the stage at a rally in the swing state of North Carolina on Friday to introduce several plans aimed at reducing the cost of groceries, housing and other essential goods. The vice president’s plan includes tax cuts, a federal ban on price gouging by food producers and down payment assistance for qualified first-time home buyers.

„As president, I will accept higher costs for most Americans, such as the cost of food,” he said. „We all know that prices went up during the pandemic when supply chains shut down and failed. But our supply chains have improved and prices are still high.”

The economy has become a top issue for voters as Harris and the GOP’s nominee, former President Donald Trump, aim to address the issue. Trump, who spoke about his economic plans at a rally in North Carolina on Wednesday, said on Thursday he was broadening his stance on tariffs on foreign imports as he criticized Harris’ proposal, likening it to „Maduro-esque price controls.” The Venezuelan economy.

Trump’s response comes as Harris drew criticism for promising to pursue inflation as a way to tackle inflation, with economists warning the plan could backfire and fail to address its root problems.

Newsweek Harris’ campaign has been reached by email for comment.

In an interview appearance on NBC News on Sunday’ Meet the pressTo Michigan Gov. Gretchen Whitmer, a Democrat, Harris’ proposal to ban price gouging is „nothing but a gimmick?” asked host Kristen Welker. A hint The Washington PostReview by the Editorial Board of the project.

According to PostIn an opinion piece on Friday, it accused Harris of being „less transparent” with voters about the reasons why prices have persisted, and said Harris „wasted this moment on populist gimmicks.”

„I think that speaks to Kamala Harris’ values, that she wants consumers to keep more money in their pockets. We know we’ve got to get business growth in this country…We also know you can’t dig and hurt. American consumers have to pad your bottom line, I think there’s a balance there,” Whitmer said.

To continue pushing, Welker asked, „So you think it’s a smart policy?”

Whitmer responded, „Any effort we make to keep more money in the pockets of Americans is worth walking down the aisle.”

In an interview appearance on CBS News’ Face the nationHost Margaret Brennan asked Kentucky Gov. Andy Beshear, a Democrat, if he knew how Harris’ plan would work.

„I do because I’ve been an attorney general as much as the vice president … It’s not about trying to fix prices. It’s about making sure the economy works, it’s really about supply and demand,” Beshear said.

Brennan, however, noted Republican criticism that Harris has been accused of advocating price controls similar to those in communist countries, and added, „How do you define excessive prices if you don’t have a benchmark?” He asked Beshear to explain.

Beshear responded: „First of all, these are the types of statutes that exist in state law…it has to be evidentiary. Ultimately, you’re bringing an action and you have to prove it in court. So, you have to have evidence that it’s beyond the distribution requirement — that people are taking advantage of us. takes.”

On CNN’s appearance State of the UnionHouse Minority Leader Hakeem Jeffries doubled down on Democrats’ support for Harris’ economic plan, calling it „a very important plan to make sure we keep costs down for everyday Americans.”

CNN anchor Jake Tapper asked, „Is that part of the problem when it comes to high prices and inflation, and you and your colleagues on Capitol Hill, President Trump and Biden together, have probably overcharged the economy because of the pandemic?”

In response, Jeffries pointed to challenges he had „inherited” from the former president, saying one of those challenges was rising prices.

„Part of the challenge that everyday Americans feel is that price gouging is caused by some bad actors and it’s reasonable for us to look at how we can prevent that. Harris says we simply have to. Make sure markets are working properly,” the House minority leader said.

Meanwhile, when ABC News asked’ This week If Democratic Illinois Senator Tammy Duckworth is „comfortable” with Harris’ economic proposals that could increase the federal deficit, host Martha Raddatz said, „I’m comfortable with what we have to do to get rid of the Trump tax cuts.” For the rich… it’s about balancing everything.”

Among the biggest policy ideas Trump has released is an extension of the 2017 Tax Cuts and Jobs Act (TCJA), which currently expires in 2025. When it was first enacted under his presidency in 2017, it created a flat corporate tax. The ratio is 21 percent.