Patriotic Millionaires Applaud Vice President Harris’ Economic Agenda and Call for Tax Hikes on the Rich

Friday, August 16

For Immediate Release

Friday, August 16, 2024

Patriotic Millionaires Applaud Vice President Harris’ Economic Agenda and Call for Tax Hikes on the Rich

 “Harris’ proposals today are a great start in lifting up lower- and middle-income workers, but it is imperative that she also use the tax code to rein in runaway wealth and income at the very top.”

WASHINGTON, DC – Today, at a campaign event in Raleigh, North Carolina, Vice President Kamala Harris laid out an economic agenda to lower costs for American families for her first 100 days in office, which included proposals to, among other things, tackle price gouging from grocery chains and give expanded tax relief to low- and middle-income earners.

In response, Morris Pearl, Chair of the Patriotic Millionaires and a former managing director at BlackRock, Inc., released the following statement:

“The economic agenda that Vice President Harris has laid out today to lower costs for American families is a strong start. The policies that she has proposed – including a federal ban on grocery price gouging and expanded versions of the Child Tax Credit and Earned Income Tax Credit – will go a long way in giving workers suffering under the weight of rising costs of living the financial boost that they desperately need. Next, she should turn her attention to taxing billionaires and corporations that have gotten too many gifts from our broken tax code for too long.

Harris’ proposals stand in stark contrast to the so-called “relief” that Donald Trump has proposed giving to working Americans with a 10-20% tariff on all imported goods, which would significantly raise costs on everyday essentials like food, clothing, and gas. In the end, just like with his first term in office, the only people in America that would benefit from any of Trump’s economic proposals are wealthy people like us.

Harris’ proposals today are a great start in lifting up lower- and middle-income workers, but it is imperative that she also use the tax code to rein in runaway wealth and income at the very top. These changes are popular, economically sound, and deeply necessary to tackle inequality and rescue our democracy. Harris must make it clear that wealthy people like us will finally be taxed effectively under her presidency.”

For additional information or interview requests, please contact Emily McCloskey at emily@patrioticmillionaires.org.

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