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Vice President Harris appeared to undercut her own economic plan on Wednesday, saying her administration would crack down on companies who price gouge shoppers before admitting “very few” companies engage in price gouging.
Harris delivered the remarks at the Congressional Hispanic Caucus Institute’s 47th Annual Leadership Conference in Washington, D.C., providing few specific details about the policies she’s running on for president.
At one point, Harris spoke about providing families with the necessary resources so that parents can “raise their children well,” though did not say what resources or how they would be provided.
“I grew up understanding the children of the community are the children of the community, and we should all have a vested interest in ensuring that children can go grow up with the resources that they need to achieve their God-given potential,” Harris said.
POLICY GROUP SAYS HARRIS’ SMALL BUSINESS BREAK GETS DROWNED OUT BY OTHER HIGHER TAXES
Harris said she wants to lower the cost of groceries for families struggling at the kitchen table, vowing to take on big corporations who price gouge their customers. But she appeared to undercut her own policy a few moments later, saying that “very few” corporations price gouge.
“Many of you who have and are coming from states where we’ve seen extreme weather conditions in California, wildfires in other parts of the country, or even in the pandemic where people are desperate because of these kinds of emergencies, desperate for support, and then some, you know, corporation, and it’s very few of them that do this, but then jack up prices to make it more difficult for desperate people to just get by,” Harris said. “We need to take that on.”
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Harris’ economic plan proposes raising the corporate tax rate to 28% from the current 21%, after she had previously supported a 35% corporate tax rate during her short-lived presidential campaign in the 2020 cycle.
While the Harris campaign has described this as a “fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share,” it has drawn scrutiny from some policy groups.
The Tax Foundation’s analysis estimates that Harris’s overall plan would increase taxes by $4.1 trillion from 2025-2034, while reducing long-term GDP by 2%, reducing wages by 1.2%, and resulting in the loss of 786,000 jobs over that period.
Fox News Digital’s Breck Dumas contributed to this report.
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