Kamala Harris, the first female, African American, and Asian American vice president, is set to deliver an economic address in Raleigh, North Carolina, on August 16, 2024. The speech is expected to outline significant proposals aimed at addressing key economic concerns.
One of the main points of Harris's speech is a proposed ban on "price gouging" in the grocery and food industries. This issue gained prominence during the COVID-19 pandemic, highlighting the lack of federal laws specifically prohibiting such practices. With the US grocery industry generating revenues of approximately $811 billion in 2023, this proposal could have far-reaching implications.
Additionally, the vice president is anticipated to introduce a tax credit that would provide $6,000 per child to families for the first year of a baby's life. This proposal comes at a time when the average cost of raising a child in the US exceeds $230,000, and the nation's birth rate has been declining, reaching a record low in 2020.
The Democratic Party views Harris's visit to Raleigh, the capital city of North Carolina founded in 1792, as strategically important. North Carolina has been a swing state in recent presidential elections, and Democrats believe their prospects of winning the state have improved with Harris on the ticket.
Meanwhile, former president Donald Trump has no public events scheduled for the day. His running mate, Senator J.D. Vance of Ohio, a former venture capitalist and author of "Hillbilly Elegy," is campaigning in Wisconsin, another crucial battleground state in recent presidential elections.
As the 2024 US presidential election, scheduled for November 5, 2024, approaches, economic policies continue to play a pivotal role in the campaigns. Vice presidential candidates often focus on battleground states to boost their ticket's chances, and Harris's visit to North Carolina aligns with this strategy.
The proposed economic measures, including the price gouging ban and child tax credit, reflect ongoing political debates about supporting families and regulating market practices. These issues are likely to remain central to the campaign as both parties vie for support in key swing states like North Carolina and Wisconsin.