By Trevor Hunnicutt
WASHINGTON (Reuters) – U.S. Vice President Kamala Harris is set to deliver her first policy-focused speech as the Democratic presidential candidate on Friday, targeting price gouging and signaling a potential challenge to big corporations and their executives.
Heading to Raleigh, North Carolina, a key battleground state, Harris will unveil her plans to “reduce costs for middle-class families and combat corporate price-gouging,” according to her campaign on Tuesday.
Due to Tropical Storm Debby, Harris had to postpone a previous event in North Carolina. By choosing to focus on the economy in her first major policy address and holding it in North Carolina, Harris is demonstrating a renewed Democratic effort to flip a state they have only won twice in the last 50 years.
With less than three months until the November 5 election against Republican Donald Trump, Harris has generated increased enthusiasm and fundraising for the ticket following President Joe Biden’s withdrawal, and has seen favorable shifts in polls in various states.
While her campaign views Pennsylvania as a crucial state to win, North Carolina presents a more challenging prospect. Biden narrowly lost the state to Trump by a margin of 1.3% – just 74,000 votes, but his chances there were slim before stepping down on July 21.
FOCUSING ON CORPORATE GREED
Harris’ upcoming speech will be closely scrutinized to assess any differences in style or substance from Biden, whose economic policies have faced criticism from voters concerned about the rising costs of housing, healthcare, groceries, and fuel.
Recently, Harris voiced her support for eliminating taxes on tips, aligning with a stance similar to Trump’s. She is also scheduled to join Biden for a White House event on Thursday focusing on healthcare expenses.
Biden has attributed high prices to corporate greed, accusing companies of maximizing profits by reducing product sizes and failing to pass on cost savings to consumers.
Several major consumer goods companies have raised prices in recent quarters, contributing to a 25% increase in food prices between 2019 and 2023.
As California’s attorney general from 2011 to 2016, Harris actively targeted “corporate greed and price gouging,” challenging industries such as pharmaceuticals, oil, electronics, and cosmetics, as per a campaign official.
The official, speaking anonymously before the event, emphasized that Harris recognizes the burden of high costs and will prioritize addressing inflation from the first day in office.
This approach stands in stark contrast to Trump’s strategy of deregulation across various industries as a means to lower costs and stimulate economic growth.
In a recent Ipsos poll, Harris led Trump nationally by five percentage points, with 42% support compared to Trump’s 37%, marking an increase in her advantage from a July 22-23 Reuters/Ipsos survey.