Behind Harris’ $100 Billion Tax Credit Promise and Where It’s Going

Kamala Harris, Democratic candidate for president, recently gave a speech to the Economic Club of Pittsburgh at Carnegie Mellon University’s Philip Chosky Theater, laying out her economic vision for America’s future.

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As reported by The Wall Street Journal, for voters who may not have found Harris’ policy details particularly concrete, the speech gave her the opportunity to elaborate on an economic plan defined by pragmatism, as well as a focus on middle-class jobs . and a vast array of tax credits intended to stimulate and sustain growth in the manufacturing sector.

Harris described her vision as “the opportunity economy,” in which her goal is to ensure that “everyone can find a job and more,” and said she wants “Americans and families to not only be able to get by, but to survive.” . to move forward.”

Who the tax credits would affect

A fundamental aspect of Harris’ plan is to invest in the industries most strategic for America’s future, ensuring that workers and their communities reap the rewards of that investment. As such, Harris has centered her economic strategy around what she has called “America Forward Tax Credits”: $100 billion in tax credits targeted at industries considered essential to America’s economic growth, as well as its security – such as manufacturing of clean energy, artificial intelligence development and the US semiconductor sector.

Further, the credits could be increased for companies that invest in “long-standing manufacturing, energy and agriculture communities” in a way that could appeal to Rust Belt workers and voters. Elsewhere, credits will be valued depending on how companies treat their workers, a plan designed to help protect unions and workers.

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Other plans for employees

Speaking of employee benefits, Harris also noted that she plans to eliminate college degree requirements for approximately 500,000 federal jobs as a means to “promote meaningful pathways for those without a college degree.” As she described it, this would “eliminate degree requirements while increasing skills.”

In total, Harris’ plan is specifically tailored to the needs of America’s middle-class workers, while at the same time building a bridge to the business sectors that will grow in America’s future. Whether that plan will appeal to voters will only be known on election day – Tuesday, November 5.

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