Vice President Harris appeared to undermine her own economic plan on Wednesday, saying her administration would crack down on companies that gouged prices, before admitting that “very few” companies engage in price gouging.
Harris spoke at the Congressional Hispanic Caucus Institute’s 47th Annual Leadership Conference in Washington, D.C., and provided few specific details about the policies she is advocating for president.
At one point, Harris spoke of providing families with the resources necessary for parents to “raise their children well,” though she did not say what resources or how they would be provided.
“I grew up understanding that the community's children are the community's children and that we should all have a vested interest in ensuring that children can grow up with the resources they need to reach their God-given potential,” Harris said.
Political group says Harris' small-business advantage is drowned out by other higher taxes
Kamala Harris spoke at the Congressional Hispanic Caucus Institute (CHCI) leadership conference on Wednesday in Washington. (AP Photo/Jacquelyn Martin)
Harris said she wants to lower the cost of food for families struggling to afford the kitchen table and vowed to take on big corporations that price goug their customers. But moments later she appeared to undermine her own policy by saying that “very few” corporations price goug.
Harris provided few specific details about her economic policy. (AP Photo/Jose Luis Magana)
“Many of you are coming from states where we've seen extreme weather in California, wildfires in other parts of the country, or even in the pandemic, where people are desperate because of these kinds of emergencies, desperate for support, and then some corporations, and there are very few that do this, but then they raise prices so that it's harder for desperate people to survive,” Harris said. “We have to confront that.”
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Harris' economic plan proposes raising the corporate tax rate to 28% from the current 21%, after previously supporting a 35% corporate tax rate during her short-lived presidential campaign in the 2020 cycle.
While Harris's campaign has described this as a “fiscally responsible way to put money back into the pockets of working people and ensure billionaires and large corporations pay their fair share,” it has drawn scrutiny from some political groups.
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The Tax Foundation analysis estimates that Harris' overall plan would raise taxes by $4.1 trillion between 2025 and 2034, while reducing long-term GDP by 2%, reducing wages by 1.2% and resulting in the loss of 786,000 jobs over that period.
Breck Dumas of Fox News Digital contributed to this report.
