Join seasoned political reporters Karen Breslau, who has covered Kamala Harris for 20 years, and Josh Wingrove, who tracks her campaign. They dive into Harris's economic vision, emphasizing her initiatives to bolster minority small businesses with a novel child tax credit. The discussion highlights her challenges in a divided Congress, controversial tax plans, and the potential impacts on global trade and antitrust regulations. It's an insightful look into what a Harris presidency could mean for America's economy.
Kamala Harris emphasizes an 'opportunity economy' focused on equity, particularly for underrepresented groups seeking access to capital for business growth.
Harris intends to address economic dissatisfaction by advocating for small business support while balancing loyalty to the Biden administration amidst rising inflation concerns.
Deep dives
Kamala Harris's Opportunity Economy
Kamala Harris emphasizes building an 'opportunity economy' that focuses on equity, particularly for underrepresented groups such as people of color seeking to start small businesses. She believes that access to capital is crucial for these entrepreneurs, as systemic inequities often hinder their opportunities. Harris advocates for initiatives like a wider child tax credit, which aims to alleviate financial burdens for families welcoming new children, recognizing the high costs associated with parenthood. Her focus on equity extends to her broader policy framework, addressing fundamental barriers that prevent marginalized communities from thriving economically.
Challenges of Campaining as an Incumbent
Kamala Harris faces the dual challenge of campaigning as both an incumbent and a change agent while navigating criticism about the current administration's handling of economic issues, including inflation. Many voters express dissatisfaction with the Biden-Harris administration's economic performance, attributing rising prices to corporate greed rather than governmental policies. This perception leads Harris to focus on small businesses as a key indicator of economic health and proposes raising the tax deduction for startups to facilitate entrepreneurship. Balancing these evolving perspectives with loyalty to President Biden is a delicate task for her as she constructs her campaign strategy.
Harris's Economic Vision and Legislative Challenges
Harris's economic vision also includes a focus on antitrust legislation and global trade, aiming to create stable policies that differ from the chaotic approach seen during the Trump administration. She plans to continue supporting existing tariffs on China while emphasizing the importance of protecting American consumers from potential price increases due to aggressive tariff strategies. However, her ability to enact changes will be significantly hampered by a potentially divided Congress, making it crucial for her to navigate tax negotiations carefully. With her political history suggesting she may prioritize social welfare initiatives over corporate tax reforms, the upcoming election poses a significant test of her legislative influence.
Since Vice President Kamala Harris took over the Democratic presidential ticket, she’s faced criticism from voters who say they don’t know what she stands for. But we know two Bloomberg reporters who do: California bureau chief Karen Breslau, who’s been following Harris’ career for two decades, and Josh Wingrove, who covers her campaign.
Today on the show, they join host Sarah Holder to discuss what we know about Harris’ economic message and what a Harris presidency could mean for everything from domestic taxes to global trade.