Additional Coverage:
- Kamala Harris struggles to answer questions about her economic plan in ’60 Minutes’ interview (foxbusiness.com)
Vice President Kamala Harris faced questions about her economic plan in a recent interview. Critics have blamed the Biden administration for rising prices, but Harris cited low unemployment and a thriving economy.
Harris’s plan includes banning alleged price gouging in the grocery industry, expanding the child tax credit, and providing tax breaks for first-time homebuyers and small businesses. However, the Committee for a Responsible Federal Budget estimates it would increase the budget deficit by $3 trillion over a decade.
Harris said she would offset the costs by increasing taxes on wealthy individuals and corporations. She argued that teachers, nurses, and firefighters should not pay higher tax rates than billionaires.
Harris acknowledged that Congress has not supported her tax increase proposals. However, she expressed confidence that many lawmakers understand the need to address the federal deficit, which was exacerbated by the Trump tax cuts.
Harris emphasized her commitment to both public service and capitalism. She believes that investing in small businesses strengthens the economy and that the government has limitations in its ability to solve economic problems.