What would a Kamala Harris presidency mean for the economy?

Published On - July 26, 2024

Tony Marsh
She’s significantly further to the left of Biden on abortion (abortion anytime for any reason,) Israel (cut off Israel from aid to incentivize an immediate cease fire,) and even immigration (reduce the role of the border patrol’s enforcement duties.) But what do we know about her economic positions?
 
Harris boasts the economy under Biden-Harris is stronger than ever despite consumer prices topping 19.5% since December 2020, recent lows in real take home pay, and unemployment among white collar workers arching higher in recent weeks.
Harris says she wants to be known for supporting the middle class. Listed below is a partial listing of positions she’s taken on recent issues…
  • Repeal the Trump tax cuts, increase corporate taxes from 21% to 35%, and eliminate small business tax breaks.
  • Raise personal income taxes on wealthy households (Biden set that number at $400,000, Harris hasn’t said where she would cap income tax increases.)
  • Require businesses pay for family leave (30 to 90 days.)
  • A Universal Basic Income provided by government to low and middle class households.
  • A tax credit for renters who earn up to $100,000.
  • Increase payroll taxes for social security on those making more than $250,000 annually.
  • Forgive $167 billion in student loan debt.
  • Higher tariffs and withdrawal from international trade deals.
  • Make companies with 100 workers or more pay to the government any disparity in compensation between male and female employees.
  • Co-authored the Green New Deal in 2020 which aimed to ban fossil fuels, limit the availability of beef, and curtail air travel.
  • A ban on all fracking in the U.S.
  • Stop construction of oil and gas pipelines.
  • Ban offshore oil production.
  • Cap increases on rent to no more than 5% per year.
  • Enact Medicare for All.
Suggested additional reading on Kamala Harris’ economic policies.