Vice President Kamala Harris outlined her vision for a pro-business, middle-class-focused economy during a speech at the Economic Club of Pittsburgh, directly countering Republican nominee Donald Trump’s claims that she promotes “communist” ideas. Speaking in the key battleground state of Pennsylvania, Harris emphasized her willingness to embrace effective ideas from all sides. She pledged to double the number of people in registered apprenticeships and pushed for increased homeownership.
Harris highlighted her middle-class roots, sharing a personal story: “I grew up in a middle-class family. While we were more fortunate than many, I still remember my mother sitting at that yellow Formica table late at night, a cup of tea in hand, with a pile of bills in front of her, trying to make sure they were paid off by the end of the month.”
Meanwhile, Trump, in his speech in Mint Hill, North Carolina, presented a contrasting economic plan. He proposed a reduced tax rate for U.S. manufacturers and promised high tariffs to bring back auto factory jobs from countries like Japan, Germany, and South Korea. Trump’s vision centered on U.S. dominance against foreign competitors, while Harris prioritized middle-class support and entrepreneurship.
In response to Trump’s attacks, Harris declared herself a capitalist who believes in “active partnership between government and the private sector.” She criticized Trump, saying, “He has no intention of growing our middle class — he’s only interested in making life better for himself and people like him.”
During an MSNBC interview, Harris condemned Trump’s broad tariff proposals, arguing for more selective applications and emphasizing her commitment to fairness. She reaffirmed her stance on raising corporate tax rates, stressing the importance of everyone paying their fair share. Her economic approach aims to foster fairness and opportunity, creating a system that benefits all Americans. By contrast, Trump’s plan to lower the corporate tax rate for domestic manufacturers to 15% showcased his focus on boosting U.S. industry.
With the economy being a top issue for voters, both candidates are positioning themselves as champions of economic growth. Recent polls show a tight race, with neither candidate holding a clear advantage on economic issues. Both Harris and Trump advocate for American leadership in the global economy, but their strategies are starkly different. Harris intends to introduce $100 billion in tax breaks and incentives for U.S. manufacturing and emerging technologies, a plan supported by billionaire Mark Cuban for its detail and thoughtfulness.
On the other hand, Trump proposes eliminating taxes on tips, Social Security, and overtime pay, capping credit card interest rates at 10%, and creating low-tax zones on federal lands to attract employers. He also suggested reversing his 2017 cap on state and local tax deductions. Trump labeled Harris as the “tax queen” for her proposal to raise the corporate tax rate to 28% and tax unrealized capital gains for individuals with over $100 million in wealth. Harris, in turn, plans to use this revenue to extend middle-class tax cuts beyond 2025 and introduce new tax breaks for parents and entrepreneurs.
Harris has also criticized Trump’s tariff policies, warning that they would act as a “national sales tax” and increase consumer costs. Her campaign cited an analysis estimating that a 20% universal tariff could cost an average family nearly $4,000 annually, effectively raising taxes on middle-income taxpayers by 50%.
Both candidates promise to cut red tape, but their focus differs. Harris aims to streamline projects in housing, factories, and infrastructure to boost job creation and U.S. competitiveness, contrasting this with China’s rapid growth.
At the heart of Harris’s “New Way Forward” is her “Opportunity Economy” initiative, designed to ensure that all Americans have a fair chance to succeed. This plan includes tax cuts for over 100 million working- and middle-class families, an expansion of the Child Tax Credit, and the restoration of the Earned Income Tax Credit. She also pledged that no one earning under $400,000 would face a tax increase. Harris argued that Trump’s “Project 2025” primarily benefits the wealthy and increases financial pressure on the middle class.
Harris’s plan also emphasizes small businesses, which she considers essential to a strong economy. She proposed expanding access to capital, tripling lending to Black-owned businesses, and cutting red tape to promote entrepreneurship. Harris aims to support the creation of 25 million new business applications by the end of her first term. In contrast, she contended that Trump’s policies have favored large corporations at the expense of small businesses. By advocating for a fairer tax system and championing small enterprises, Harris aims to drive broad economic growth and tackle systemic inequalities.
