{"id":1048300,"date":"2024-09-25T17:28:21","date_gmt":"2024-09-25T21:28:21","guid":{"rendered":"https:\/\/democrats.org\/?p=1048300"},"modified":"2024-09-25T17:28:22","modified_gmt":"2024-09-25T21:28:22","slug":"vp-harris-economic-plan-will-spur-growth-in-u-s-manufacturing-while-trumps-project-2025-agenda-would-cost-america-over-3-million-jobs","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/vp-harris-economic-plan-will-spur-growth-in-u-s-manufacturing-while-trumps-project-2025-agenda-would-cost-america-over-3-million-jobs\/","title":{"rendered":"VP Harris\u2019 Economic Plan Will Spur Growth in U.S. Manufacturing, While Trump\u2019s Project 2025 Agenda Would Cost America Over 3 Million Jobs"},"content":{"rendered":"\n

As Harris-Walz Release Plan to Boost Domestic Manufacturing and Spur Economic Opportunity, Trump Doubles Down On His Disastrous Plan That Would Devastate U.S. Manufacturing, Raise Costs On Typical Middle-Class Families By Nearly $4,000 A Year.<\/em><\/p>\n\n\n\n

In response to Vice President Harris\u2019 new proposals to invest in American innovation and entrepreneurship, <\/em>DNC National Press Secretary \u2068Emilia Rowland\u2069 released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cVice President Harris\u2019 plan to invest in American innovation, manufacturing, and entrepreneurship could not stand in starker contrast to Trump\u2019s failed record and second-term Project 2025 agenda to extend his disastrous tax scam that created new incentives for companies to ship jobs overseas and left the middle class behind. While VP Harris has been criss-crossing the country talking to small business owners about her plan to support entrepreneurship, including a ten-fold<\/a> increase in the tax deduction for starting a small business, Donald Trump and JD Vance are pushing a Project 2025 agenda that would send even more good-paying jobs overseas<\/a>, cost the US over 3 million jobs<\/a>, send<\/a> inflation<\/a> skyrocketing<\/a>, and raise costs for typical middle-class families by nearly $4,000 a year<\/a> while giving handouts to their billionaire buddies<\/a>. Americans are ready for Vice President Harris to chart a new path forward by creating an opportunity economy that gives everyone a fair shot to succeed \u2013 and they\u2019ll reject Trump\u2019s plans to take us backward.\u201d<\/p>\n\n\n\n

Today, Vice President Harris laid out her vision for an opportunity economy that would chart a new way forward, driving job creation and economic growth. <\/strong><\/p>\n\n\n\n

Vice President Harris<\/a>: \u201cIn this election, we have an opportunity to make our middle class the engine of America\u2019s prosperity, build a stronger economy where everyone has a chance to pursue their dreams and aspirations, and ensure the United States continues to out-innovate and out-compete the world.\u201d<\/p>\n\n\n\n

Vice President Harris<\/a>: \u201cWe face a choice between two fundamentally different paths for our economy. I want to chart a New Way Forward and grow our middle class. Trump wants to raise taxes on the middle class and give tax cuts to billionaires.\u201d<\/p>\n\n\n\n

Vice President Harris<\/a>: \u201cWe will take on bad actors who exploit emergencies and drive up grocery prices by enacting the first-ever federal ban on corporate price gouging.\u201d<\/p>\n\n\n\n

Axios<\/a>: \u201cOver 400 economists and policy experts said in an open <\/strong>letter<\/strong><\/a> endorsing Harris on Tuesday that she \u2018worked on behalf of American families to lower costs, cut taxes, raise wages, and promote worker organizing.\u2019<\/strong><\/p>\n\n\n\n

\u201cThey added that \u2018Trump’s proposed policies risk reigniting inflation\u2019 and threaten the \u2018global standing and domestic economic stability\u2019 of the U.S.\u201d<\/p>\n\n\n\n

Trump\u2019s MAGAnomics tax scam created new incentives for companies to offshore American jobs, and he left office with the worst jobs record of any president in modern American history. <\/strong><\/p>\n\n\n\n

<\/strong>Bloomberg<\/a>: \u201cThe Offshoring of U.S. Jobs Increased on Trump\u2019s Watch\u201d<\/p>\n\n\n\n

Reuters<\/a>: \u201cHow offshoring rolled along under Trump, who vowed to stop it\u201d<\/p>\n\n\n\n

The Guardian<\/a>: \u201c\u2018He pulled the wool over our eyes\u2019: workers blame Trump for moving jobs overseas\u201d <\/p>\n\n\n\n

\u201cPromises to save US manufacturing and prevent American jobs moving abroad were a key part of Donald Trump\u2019s 2016 campaign. But since Trump took office in January 2017, nearly 200,000 jobs have been moved overseas, based on Trade Adjustment Assistance certified petitions.\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump promised \u2018America First\u2019 would keep jobs here. But the tax plan might push them overseas.\u201d<\/strong><\/p>\n\n\n\n

Politico<\/a>: \u201cTrump hails \u2018manufacturing miracle\u2019 as factories bleed jobs\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cPresident Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cTrump\u2019s Jobs Record Fell Short of Promises Even Before the Virus\u201d<\/strong><\/p>\n\n\n\n

Fortune<\/a>: \u201cTrump to leave office with the worst jobs record since Herbert Hoover\u201d<\/p>\n\n\n\n

Trump has been clear that he would send new, good-paying manufacturing jobs overseas by repealing the Biden-Harris Inflation Reduction Act \u2014 which has already helped spur the creation of thousands of jobs \u2013 and his Project 2025 plans would cost the U.S. even more jobs, send inflation soaring, and raise taxes on everyone but the wealthy elite.<\/strong><\/p>\n\n\n\n

Axios<\/a>: \u201cTrump’s inflation bomb: How his second-term plans could make it worse\u201d<\/strong><\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cEconomists Say Inflation Would Be Worse Under Trump Than Biden\u201d<\/strong><\/p>\n\n\n\n

USA Today<\/a>: \u201cUnder a Trump administration, inflation would rise from 3% this year to 3.5% in 2025, compared to 2.4% under Harris, the Moody\u2019s analysis shows. At the end of a Trump tenure the U.S. would have 3.1 million fewer jobs than under Harris and a 4.5% unemployment rate, a half percentage point higher.\u201d<\/strong><\/p>\n\n\n\n

The Guardian<\/a>: \u201cThey were billed as a \u2018middle-class miracle\u2019 but according to a new book Donald Trump\u2019s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.\u201d<\/strong><\/p>\n\n\n\n

TaxNotes<\/a>: \u201cI\u2019ll Scrap IRA Tax Credits on Day 1, Trump Says\u201d<\/p>\n\n\n\n

Financial Times<\/a>: \u201cDonald Trump would gut Joe Biden\u2019s landmark IRA climate law if elected\u201d<\/p>\n\n\n\n

Politico<\/a>: \u201cDonald Trump pledged Thursday to rescind any \u2018unspent\u2019 funds under the Inflation Reduction Act should he be elected in November \u2014 potentially upending key parts of the Democrats\u2019 climate law and its benefits to Republican-led communities.\u201d<\/p>\n\n\n\n

Center for American Progress<\/a>: \u201cProject 2025\u2019s tax plan includes an \u2018intermediate tax reform\u2019 that includes changes to tax brackets and corporate tax cuts that would shift the tax burden toward middle-income households.<\/strong> And the \u201cfundamental tax reform\u201d it proposes would replace all individual income and corporate taxes with consumption taxes.\u201d<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As Harris-Walz Release Plan to Boost Domestic Manufacturing and Spur Economic Opportunity, Trump Doubles Down On His Disastrous Plan That Would Devastate U.S. Manufacturing, Raise Costs On Typical Middle-Class Families By Nearly $4,000 A Year. In response to Vice President Harris\u2019 new proposals to invest in American innovation and entrepreneurship, DNC National Press Secretary \u2068Emilia […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1048300","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nVP Harris\u2019 Economic Plan Will Spur Growth in U.S. Manufacturing, While Trump\u2019s Project 2025 Agenda Would Cost America Over 3 Million Jobs - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/vp-harris-economic-plan-will-spur-growth-in-u-s-manufacturing-while-trumps-project-2025-agenda-would-cost-america-over-3-million-jobs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-25T21:28:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-25T21:28:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXc9iOddiq0r7GTJVXyeDfoeh3QkwSMRknDKlnPgTqTwzAKH_v1nJegMHrHbCtzJs_K_x_C6CBYGpZtK-xh3GrgY_xwhvHI8o8QmO3wDUYXBwM2s174uk7E5M2Fm5e4Z6Zqob8qZvnApMX8TwIB7Ia23Iek?key=4olB-5so0PGmX7YGThPqwQ\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/vp-harris-economic-plan-will-spur-growth-in-u-s-manufacturing-while-trumps-project-2025-agenda-would-cost-america-over-3-million-jobs\/\",\"url\":\"https:\/\/democrats.org\/news\/vp-harris-economic-plan-will-spur-growth-in-u-s-manufacturing-while-trumps-project-2025-agenda-would-cost-america-over-3-million-jobs\/\",\"name\":\"VP Harris\u2019 Economic Plan Will Spur Growth in U.S. Manufacturing, While Trump\u2019s Project 2025 Agenda Would Cost America Over 3 Million Jobs - 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