Vice President Kamala Harris has been balancing the challenges of defending “Bidenomics” and charting her own course on the economy.
As Vice President Kamala Harris unveiled her economic plans in recent weeks, former President Donald J. Trump has accused her of being a Marxist, a communist and a socialist.
When they meet on Tuesday night for their only scheduled presidential debate, Ms. Harris will have the opportunity to rebut those claims and confront Mr. Trump about his record of managing the U.S. economy.
She will also lay out her vision, which has been challenging as she tries to defend “Bidenomics” and demonstrate that she has a plan to chart a new course amid widespread economic discontent among many Americans who are struggling with high prices and other affordability issues.
In a compressed presidential campaign, Ms. Harris indicated that she would continue many of President Biden’s policies, which aim to raise taxes on companies and punish them for price gouging, while also trying to strike a more business-friendly tone. In some cases, such as her embrace of ending taxation of tips, the vice president has even shown a willingness to adopt the policies put forward by Mr. Trump.
How Ms. Harris would ultimately govern if elected will depend largely on the makeup of Congress, but her initial suite of proposals — from taxes to trade to child care — suggests that she would take the economy in a vastly different direction than her Republican opponent.
Cost of Living
Perhaps Ms. Harris’s biggest political vulnerability is the run-up in prices that occurred during the Biden administration. Mr. Trump has repeatedly blamed the vice president for causing inflation to surge after the coronavirus pandemic, a phenomenon that stemmed from a mix of factors such as supply chain issues, Russia’s invasion of Ukraine and repeated bursts of fiscal stimulus to keep families and businesses afloat. The higher cost of goods initially hurt Mr. Biden when he was running against Mr. Trump, and Ms. Harris is now facing many of the same concerns from Americans who are feeling negative about a relatively strong economy.
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Source: Economy - nytimes.com
