Harris reveals economic strategy she claims is 'laser-focused on the middle-class'

Vice President Kamala Harris held a rally in Raleigh, North Carolina, on Friday afternoon where she was slated to outline her economic proposals as the Democratic presidential candidate.

During her speech, the current sitting vice president proceeded to list several guarantees she pledged to deliver if elected to higher office, namely "building up the middle class" by lowering the cost of living, which the Biden-Harris administration has failed to accomplish despite holding office over the past several years.

Harris provided only a few details on how her administration plans to achieve her new economic plan.

'Opportunity economy.'

"By virtually every measure, our economy is the strongest in the world," Harris claimed while vowing to be "laser-focused on creating opportunities for the middle class."

"Together, we will build what I call an opportunity economy," Harris declared. "When the middle class is strong, American is strong."

Harris explained that she would reveal a more detailed economic strategy in the coming weeks, which she promised would prioritize "lowering the cost of living," including food, housing, and medical care.

After claiming to have the "strongest" economy in the world, Harris then admitted that the price of bread at the grocery store today is 50% higher than "before the pandemic" — when former President Donald Trump was in office. However, Harris blamed the inflated costs on some grocery chains that overcharge consumers.

"As president, I will go after the bad actors," Harris said. "And I will work to pass the first-ever federal ban on price gouging on food. My plan will include new penalties for opportunistic companies that exploit crises and break the rules. And we will support smaller food businesses that are trying to play by the rules and get ahead."

"We will help the food industry become more competitive because I believe competition is the lifeblood of our economy," she continued. "More competition means lower prices for you and your families."

Throughout her speech, Harris took swipes at Trump, claiming that his economic strategy would increase costs for Americans and accusing him of offering "no serious plans" to reduce the cost of living for middle-class Americans.

Harris touted the Biden-Harris administration for lowering medical costs on prescription drugs and insulin for seniors, promising to expand similar savings to everyone and further lower health care expenses. Additionally, she said she plans to "cancel" medical debt.

The vice president blamed the high real estate prices on a housing shortage and vowed to "cut red tape" at state and local levels to build 3 million new homes and rentals for middle-class Americans within her first term. Harris also promised $25,000 to help first-time homebuyers cover down-payment costs. Additionally, she said she would back legislation that would crack down on investors artificially inflating housing costs.

According to Harris, her economic strategy would allow Americans to "keep more of your hard-earned money," including the Earned Income Tax Credit and the Child Tax Credit. She pledged to expand the latter to give families $6,000 in tax relief for the first year of a child's life.

"We will do this while reducing the deficit," Harris proclaimed.

The first presidential debate between Harris and Trump is scheduled for September 10 at 9 p.m. Eastern in Philadelphia, Pennsylvania.

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