Thu Sep 26 13:00:00 UTC 2024: ## Kamala Harris Unveils $100 Billion Plan to Boost US Manufacturing and Counter China
**Pittsburgh, PA** – Vice President Kamala Harris outlined a bold $100 billion plan to revitalize American manufacturing and compete with China, emphasizing a focus on middle-class prosperity. Delivering her remarks at the Economic Club of Pittsburgh, Harris positioned her “America Forward” strategy as a continuation of the Biden administration’s recent investments in manufacturing, like the Inflation Reduction Act and the Chips and Science Act.
The plan centers around offering new tax credits for companies that prioritize worker treatment, including unionization rights, and invest in energy, manufacturing, and agricultural communities. These incentives aim to bolster key sectors like automakers, artificial intelligence firms, semiconductor manufacturers, and clean energy companies, seen as crucial for national security and job protection in the face of Chinese competition.
“We will invest in the industries that made Pittsburgh the Steel City,” Harris declared, promising support for steel, iron, and manufacturing communities with tax credits for expanding union jobs. She further outlined plans to streamline federal hiring practices by eliminating unnecessary degree requirements, support apprenticeship programs, increase domestic production of critical minerals like lithium and aluminum, and reduce bureaucratic red tape.
Harris emphasized her capitalist stance, rejecting any socialist or Marxist labels. She stated, “Look, I am a capitalist. I believe in free and fair markets,” drawing on the philosophies of Warren Buffett, Alexander Hamilton, and Carnegie Mellon University founders, Allen Newell and Herbert Simon.
The $100 billion cost of the plan, according to the Harris campaign, would be offset by proceeds from international tax reforms. Harris has previously advocated for increasing the corporate tax rate and levying higher taxes on the wealthiest Americans to fund her initiatives, including tax credits for families with young children and efforts to curb high drug prices and Wall Street’s dominance in the housing market.
Harris’ proposals stand in contrast to former President Donald Trump’s approach, which focused on increasing tariffs on Chinese imports. While Trump argues these tariffs would offset tax cuts for corporations and individuals, Harris considers them “not very serious” and criticized his record on manufacturing, citing what she claimed to be an inaccurate statistic.
This latest announcement from Harris underscores her commitment to bolstering American manufacturing and creating a more equitable economy, positioning her as a champion of middle-class prosperity and a formidable challenger to her opponents.
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