Vice President Kamala Harris delivered an economic policy address on Friday in Raleigh, North Carolina. The address targeted middle-class voters with proposals to reduce the costs of essentials like food, housing, healthcare, and childcare.
Outlining her vision of an “opportunity economy,” Harris emphasized financial security and contrasted her plans sharply against those of her rival, former President Donald Trump, whom she criticized for supporting tariffs and tax cuts for the wealthy.
Harris’s proposed measures include a federal ban on price gouging for groceries, a new $6,000 child tax credit for families with newborns, and $25,000 in down-payment assistance for first-time homebuyers. Critics, including economic analysts, have expressed concerns that her policies might lead to government overreach in setting prices.
Read: Former Obama Economist Slams Kamala Harris’ Plan For Nationwide ‘Price Controls’
CNN Economics Commentator Catherine Rampell shredded Kamala Harris’ plan to institute price controls.
“We’ve seen this kind of thing tried in lots of other countries before, Venezuela, Argentina, the Soviet Union,” Rampell said. “It leads to shortages. It leads to black markets, plenty of uncertainty.”
Rampell said that Kamala’s price control plan would “at best, do nothing. At worst, cause a lot of harm.”
“So anyway, you know, the devil’s in the in the details, I guess, for that bill. But it’s really hard for me to imagine any form of legislation that preserves the spirit of what she’s proposing that would not be, you know, at best, do nothing. At worst, cause a lot of harm,” said Rampell.
According to the Committee for a Responsible Federal Budget, Harris’s plan’s policies are projected to increase deficits by $1.7 trillion over the next decade.
This marks Harris’s first policy-focused speech since assuming leadership of the Democratic ticket after President Joe Biden’s withdrawal from the race.
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First published by the Daily Caller News Foundation.