Sen. Elizabeth Warren (D-Mass.) has expressed support for Vice President Kamala Harris’ proposed measures to combat corporate price-gouging, contrasting it with former President Donald Trump’s economic strategy.
What Happened: On Tuesday, Warren took to X to voice her endorsement of Harris’ economic plan, which she said aims to protect working-class Americans from rising costs. Warren criticized Trump’s approach, claiming it only benefits the wealthy.
“Trump’s plan is to help the rich and powerful get richer and more powerful while letting everybody else in America eat dirt.”
Warren’s post came in the wake of Harris’ proposal for a historic federal ban on corporate price-gouging within the food and grocery sectors. The plan includes increased scrutiny of potential mergers between large supermarkets and food producers, specifically for the risk of raising grocery prices for consumers.
See Also: Kevin O’Leary Cautions Democrats About Kamala Harris: ‘They Did The Same Thing With Hillary Clinton’
Why It Matters: Harris’ proposal has faced pushback from the food industry, with critics arguing that it oversimplifies the issue. However, Warren’s endorsement adds weight to the plan, highlighting the divide between Harris’ and Trump’s economic strategies.
Meanwhile, Trump’s proposed “universal baseline tariff” on most imports and a 60% tariff on all Chinese imports has also faced criticism for potentially exacerbating inflationary pressures.
Sen. Bernie Sanders (I-Vt.) has also defended Harris against Trump’s claims, dismissing his assertion that Harris’ plan is equivalent to price controls and labeling her as an “extreme communist.”
However, Jason Furman, who served as Chairman of Economic Advisers under President Barack Obama, dismissed Harris’s plan and said it was not a “sensible policy.” He hoped it would end up as a lot of rhetoric and “no reality.”
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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