U.S. Vice President and Democratic presidential candidate Kamala Harris on Wednesday proposed tax credits for domestic manufacturers while outlining an economic plan designed to strengthen the middle class.
Speaking at the Economic Club of Pittsburgh in the battleground state of Pennsylvania, Harris outlined $100 billion in new investments in manufacturing. She unveiled her "America Forward" proposal, aimed at boosting investment, creating more industrial jobs, and developing sectors that will "define the next century," such as artificial intelligence and energy, NBC reported.
"This plan will cost approximately $100 billion and will be paid for by a portion of the proceeds of international tax reform, which seeks to prevent a global race to the bottom and to discourage inversions, outsourcing, or international tax strategies designed by corporations to avoid paying their fair share to the United States," according to Harris' campaign fact sheet.
"I have pledged that building a strong middle class will be the defining goal of my presidency," the vice-president said.
As the presidential election nears, Harris and her Republican rival Donald Trump are centering their campaigns on the economy, the top concern for U.S. voters.
Positioning herself as a "capitalist" who believes in "free and fair markets," Harris said her policies are pragmatic rather than rooted in any specific ideology, Reuters reported.
"I promise you I will be pragmatic in my approach. Because I believe we shouldn't be constrained by ideology and should instead seek practical solutions to problems," Harris said. "I'm a capitalist. I believe in free and fair markets."
Harris also vowed to cut red tape in her bid to invigorate domestic manufacturers and ease the demand for unnecessary college degrees required for various federal jobs.
The vice-president, who is facing criticism for going soft on policy issues, hit out at Trump, saying that her Republican rival's economic agenda would lead to increased prices. Calling him the candidate of the billionaire class, Harris said, "Donald Trump has no intention of lowering costs for the middle class. In fact, his economic agenda would actually raise prices."
Highlighting Trump's wealthy upbringing in contrast to her middle class, Harris said that he is "only interested in making life better for himself and people like himself, the wealthiest of Americans."
According to Pew Research, the divide between rich and poor has widened significantly in recent years. The American middle class, defined as those with two-thirds to double that of median household income, has fallen to 51% in 2023 from 62% in 1970. Also, the growth in the income of these households has been slow as compared with those in the top tier.
Meanwhile, Trump, while discussing his economic plan in North Carolina on Wednesday, pointed out Harris had her chance to improve the economy as the vice-president. "Families are suffering now. So if she has a plan, she should stop grandstanding and do it," he said.
