Harris team: Trump economic plan would ‘bring chaos,’ ‘send inflation skyrocketing’
Vice President Harris’s campaign early Monday warned against former President Trump’s economic plan ahead of his speech in Pennsylvania later in the day, saying it would "bring chaos."
The Harris campaign is doubling down on hitting Trump over his economic agenda, arguing against his proposed tariffs and that his plan would lead to potential tax increases.
“As they pledge to give more tax giveaways to the richest Americans and big corporations, their economic agenda will increase costs on everyday items, groceries, prescription drugs, housing, and health care for everyone else,” Harris’s senior policy adviser, Brian Nelson, said in a statement.
“Their reckless and backwards policies will bring chaos to economic markets, raise costs for working families, and send inflation skyrocketing. Vice President Harris and Governor Walz offer a stronger choice in this election: actual plans to lower costs, create opportunity, and protect the freedoms of the middle class,” he added.
Trump is set to visit a manufacturing plant in York City, Pa., to give an economic speech and his running mate, Sen. J.D. Vance (R-Ohio), will give a speech in Philadelphia.
The Republicans' economic focus follows remarks from Harris on Friday, when she outlined her plan to create an “opportunity economy” with proposals like a federal ban on price gouging, a plan to end the housing shortage through the construction of new units and down-payment support to first-time homebuyers, and a plan to expand the child tax credit.
Trump levied tariffs against China during his first administration and has vowed to enact a 60-percent tariff on all Chinese products, a 100-percent tariff on cars made outside the U.S. and a 10-percent tariff on all foreign products across the board.
The former president also has floated further cuts to the corporate tax rate after his 2017 Tax Cuts and Jobs Act lowered it to 21 percent. He has said he wants to make all “Trump tax cuts” permanent and bring the corporate tax rate down to 20 percent.
Additionally, the Trump campaign has bashed the Harris agenda, equating it to socialist policies implemented in countries such as Cuba and Venezuela and arguing it would not effectively reduce costs for consumers.