In a fiery speech, Vice President Kamala Harris criticizes Donald Trump for his tariff proposals, asserting that he "isn't serious" and has been "played by China." As the election approaches, Harris lays out her economic vision focused on supporting the middle class and reforming corporate taxation. Join us as we dive into her bold statements and what they mean for the future of the U.S. economy!
#KamalaHarris #DonaldTrump #Tariffs #Economy2024 #PoliticalDebate #China #MiddleClass #EconomicPolicy #Election2024 #USPolitics
#KamalaHarris #DonaldTrump #Tariffs #Economy2024 #PoliticalDebate #China #MiddleClass #EconomicPolicy #Election2024 #USPolitics
Category
🗞
NewsTranscript
00:00Without further ado, I am overjoyed to welcome
00:04the next president of the United States, Kamala Harris.
00:08-♪♪
00:10Good afternoon, everyone.
00:13Good afternoon.
00:15Hi.
00:18Well, it's good to be back in Pittsburgh.
00:21Thank you all.
00:22Thank you, thank you.
00:23Please have a seat.
00:24Please have a seat.
00:25Andrea, thank you so very much
00:28for that beautiful introduction and for your leadership.
00:30It really is my honor to be with you today.
00:33Thank you, and thank you to RESA
00:35and the Economic Club of Pittsburgh
00:37for hosting us today.
00:39And I also want to thank Mayor Gainey for being here.
00:42-♪♪
00:46Mayor, you greet me each time I come to Pittsburgh.
00:49I thank you so very much for that and your leadership.
00:54So, hello, friends.
00:57Let's get started.
00:59Okay.
01:01-♪♪
01:04So, we gather at a moment of great consequence.
01:10In this election, I believe we have an extraordinary
01:13opportunity to make our middle class
01:19the engine of America's prosperity,
01:23to build a stronger economy where everyone,
01:29everywhere has a chance to pursue their dreams
01:35and aspirations, and to ensure that the United States
01:41of America continues to out-innovate
01:46and out-compete the world.
01:50Over the past three and a half years,
01:53we have taken major steps forward to recover
01:58from the public health and economic crisis we inherited.
02:02Inflation has dropped faster here
02:05than the rest of the developed world.
02:08Unemployment is near record low levels.
02:12We have created almost 740,000 manufacturing jobs,
02:18including 650 at the battery manufacturing plant
02:23over in Turtle Creek.
02:25-♪♪
02:31And we have supported another 15,000 jobs
02:36at Montgomery Locks.
02:38So, these are local, great examples of the work
02:46that we have achieved thus far.
02:48And last week, for the first time, of course,
02:51in four and a half years,
02:52the Federal Reserve cut interest rates,
02:55which will make it just a little easier for families
02:57to buy a home or a car
03:00or just pay down their credit card bill.
03:03But let's be clear, for all these positive steps,
03:07the cost of living in America is still just too high.
03:12You know it, and I know it.
03:14This was true long before the pandemic hit.
03:18Many Americans who aspire to own a home
03:22are unable to save enough for a down payment on a house
03:27and starting to think that maybe home ownership
03:29is just outside of their reach.
03:32Folks who live in factory towns and in rural communities
03:36who have lost jobs are wondering
03:39if those jobs will ever come back.
03:42Many Americans are worried about how they'll afford
03:47the prescription medication they depend on.
03:51All of this is happening at a time
03:53when many of the biggest corporations
03:56continue to make record profits
03:59while wages have not kept up pace.
04:04I understand the pressures of making ends meet.
04:09I grew up in a middle-class family,
04:11but we were more fortunate than many.
04:15I still remember my mother sitting
04:17at that yellow Formica table,
04:21late at night, cup of tea in hand,
04:25with a pile of bills in front of her,
04:27just trying to make sure that she paid them off
04:30by the end of the month.
04:33Like so many Americans, just trying to make it all work.
04:37Every day, millions of Americans
04:39are sitting around their own kitchen tables
04:43and facing their own financial pressures.
04:47Because over the past several decades,
04:50our economy has grown better and better
04:54for those at the very top,
04:57and increasingly difficult for those trying to attain,
05:01build, and hold on to a middle-class life.
05:07In many ways, this is what this election is all about.
05:13The American people face a choice
05:16between two fundamentally very different paths
05:21for our economy.
05:23I intend to chart a new way forward
05:28and grow America's middle class.
05:31Donald Trump intends to take America backward
05:36to the failed policies of the past.
05:39He has no intention to grow our middle class.
05:42He's only interested in making life better for himself
05:48and people like himself,
05:51the wealthiest of Americans.
05:55You can see it spelled out in his economic agenda,
05:59an agenda that gives trillions of dollars in tax cuts
06:03to billionaires and the biggest corporations
06:06while raising taxes on the middle class
06:09by almost $4,000 a year,
06:13slashing overtime pay,
06:16throwing tens of millions of Americans off of health care,
06:22and cutting Social Security and Medicare.
06:25In sum, his agenda would weaken the economy
06:29and hurt working people and the middle class.
06:34You see, for Donald Trump, our economy works best
06:38if it works for those who own the big skyscrapers,
06:44not those who actually build them,
06:48not those who wire them,
06:52not those who mop the floors.
06:56Well, I have a very different vision.
07:07I have a very different vision for our economy.
07:11I believe we need to grow our middle class
07:15and make sure our economy works for everyone, for people,
07:24like the people in the neighborhood where I grew up
07:28and the hardworking Americans I meet every day
07:31across our nation.
07:34So I call my vision the Opportunity Economy,
07:39and it's about making sure everyone can find a job
07:46and more and more,
07:49because, frankly, having a job,
07:51I believe in our ambition and aspiration should be baseline,
07:57and we should aspire and have the ambition
08:00and plan to do more.
08:03I want Americans and families to be able to not just get by,
08:09but be able to get ahead.
08:11To thrive.
08:17Be able to thrive.
08:19I don't want you to have to worry
08:21about making your monthly rent if your car breaks down.
08:27I want you to be able to save up for your child's education,
08:31to take a nice vacation from time to time.
08:35I want you to be able to buy Christmas presents
08:38for your loved ones without feeling anxious
08:41when you're looking at your bank statement.
08:45I want you to be able to build some wealth,
08:49not just for yourself, but also for your children
08:53and your grandchildren, intergenerational wealth.
08:56And here's the thing, here's the thing,
09:04here's the beauty of it all.
09:06We know how to build an economy like that.
09:11We do know how to unlock strong, shared economic growth
09:17for the American people.
09:20History has shown it.
09:23Time and again, when we invest in those things
09:27that strengthen the middle class, manufacturing, housing,
09:33healthcare, education, small businesses,
09:38and our communities, we grow our economy
09:42and catalyze the entire country to succeed.
09:48I have pledged that building a strong middle class
09:51will be a defining goal of my presidency.
09:55And the reason, but let me tell you,
10:02the reason is not about politics and it's not about ideology.
10:08From my perspective, it's just common sense.
10:12It's just common sense.
10:17It's actually what works.
10:20When the middle class is strong, America is strong,
10:24and we can build a stronger middle class.
10:29The American economy, we know this here,
10:34the American economy is the most powerful force
10:38for innovation and wealth creation in human history.
10:44We just need to move past the failed policies
10:49that we have proven don't work.
10:52And like generations before us,
10:55let us be inspired by what is possible.
11:01As president, I will be grounded in my fundamental values
11:06of fairness, dignity, and opportunity.
11:12And I promise you I will be pragmatic in my approach.
11:17I will engage in what Franklin Roosevelt
11:20called bold, persistent experimentation.
11:24Because I believe we shouldn't be constrained by ideology
11:38and instead should seek practical solutions
11:42to problems.
11:44Realistic assessments of what is working and what is not.
11:50Applying metrics to our analysis.
11:54Applying facts to our analysis.
11:58And stay focused then, not only on the crises at hand,
12:05but on our big goals.
12:08On what's best for America over the long term.
12:12And part of being pragmatic means taking good ideas
12:17from wherever they come.
12:19Listen, you all know my career.
12:22Andrea shared it with you.
12:24I am a devout public servant.
12:28I also know the limitations of government.
12:33I've always been and will always be, and be clear about this,
12:39I've always been and will always be a strong supporter
12:43of workers and unions.
12:52I also believe we need to engage those who create
12:58most of the jobs in America.
13:00Look, I am a capitalist.
13:03I believe in free and fair markets.
13:09I believe in consistent and transparent rules of the road
13:14to create a stable business environment.
13:18And I know the power of American innovation.
13:22I've been working with entrepreneurs and business
13:24owners my whole career.
13:27And I believe companies need to play by the rules,
13:30respect the rights of workers and unions,
13:36and abide by fair competition.
13:40And if they don't, I will hold them accountable.
13:43And if anyone has a question about that,
13:45just look at my record as attorney general.
13:48Look at my record in California, taking on the big banks
13:57for predatory lending, taking on big health care
14:01companies for conspiring to jack up prices,
14:05taking on a big for-profit college for scamming
14:09veterans and students.
14:13At the same time, I believe that most companies
14:17are working hard to do the right thing by their customers
14:23and the employees who depend on them.
14:26And we must work with them to grow our economy.
14:31I believe an active partnership between government
14:36and the private sector is one of the most effective ways
14:40to fully unlock economic opportunity.
14:45And that is what I will do when I am president.
14:51I will target the major barriers to opportunity
14:55and remove them.
14:57We will identify common sense solutions
15:01to help Americans buy a home, start a business,
15:04and build wealth.
15:06And we will adopt them.
15:09So let's start then with the first pillar
15:12of an opportunity economy, which is lowering costs.
15:17So I made that our top priority for obvious reasons.
15:21Because if we want the middle class
15:23to be the growth engine of our economy,
15:26we need to restore basic economic security
15:31for middle class families.
15:33To that end, the most practical thing we can do right now
15:38is to cut taxes for middle class families and individuals.
15:42And that's what we will do.
15:48Under my plan, more than 100 million Americans
15:51will get a middle class tax break that
15:54includes $6,000 for new parents during the first year
15:59of their child's life.
16:00To help families cover everything
16:07from car seats to cribs.
16:10We'll also cut the cost of child care and elder care.
16:18And finally, give all working people
16:21access to paid leave, which will help everyone
16:25caring for children, caring for aging parents,
16:31and that sandwich generation, which is caring for both.
16:38So I have a personal experience with caregiving.
16:44I remember being there for my mother
16:47when she was diagnosed with cancer.
16:50Cooking meals for her, taking her to her appointments,
16:56just trying to make her comfortable,
16:58figuring out which clothes were soft enough that they wouldn't
17:02irritate her, and telling her stories
17:06to try and make her laugh.
17:10I know, caregiving is about dignity.
17:15It really is.
17:18And when we lower the cost and ease the burdens people face,
17:24we will not only make it then easier
17:26for them to meet their obligations as caregivers,
17:31we will also make it more possible for them
17:34to go to work and pursue their economic aspirations.
17:38And when that happens, our economy as a whole
17:42grows stronger.
17:46Now, middle class tax cuts are just the start of my plan.
17:51We will also go after the biggest drivers of cost
17:55for the middle class and work to bring them down.
17:58And one of those, some would argue one of the biggest,
18:03is the cost of housing.
18:05So here's what we will do.
18:07We will cut the red tape that stops homes from being built
18:12and take on, in addition, corporate landlords
18:16who are hiking rental prices.
18:23And we will work with builders and developers
18:27to construct 3 million new homes and rentals
18:31for the middle class, because increasing the housing supply
18:35will help drive down the cost of housing.
18:43We will also help first-time homebuyers just
18:47get their foot in the door with the $25,000 down payment
18:52assistance, because the goal is clear.
18:59Let's help more Americans afford to buy a home, which
19:03we know is a critical step in their ability
19:08to grow their wealth and intergenerational wealth.
19:13And we will work to reduce other big costs
19:16for middle class families.
19:18We will take on bad actors who exploit emergencies and drive up
19:23grocery prices by enacting the first ever federal ban
19:27on corporate price gouging.
19:34I had the experience of dealing with that
19:36when I was attorney general.
19:38We will take on big pharma and cap
19:41the cost of prescription drugs for all Americans,
19:44just like we did for our seniors.
19:50Now, by contrast, Donald Trump has no intention
19:53of lowering costs for the middle class.
19:56In fact, his economic agenda would actually raise prices.
20:00And listen, that's not just my opinion.
20:03A survey of top economists by the Financial Times
20:08and the University of Chicago found
20:10that by an overwhelming 70% to 3% margin,
20:15my plan would be better for keeping inflation low.
20:19Objective economists have been very clear.
20:23The second pillar of an opportunity economy
20:26is investing in American innovation and entrepreneurship.
20:31So for the last century, the United States of America
20:36has been a beacon around the world.
20:38And as your vice president now for almost four years,
20:40I've been traveling the world, meeting with world leaders,
20:45meeting with foreign leaders, meeting
20:47with business people in various countries
20:50with which we have partnership.
20:51And I will tell you, America remains a beacon
20:56for what it means to inspire and invest in innovation.
21:01Not only for our ability to come up
21:04with some of the most breakthrough ideas,
21:06but also our ability to turn those ideas
21:09into some of the most consequential innovations
21:13that we can possibly do.
21:15Some of the most consequential innovations
21:17the world has ever known.
21:20I believe the source of our success is the ingenuity,
21:25the dynamism, and enterprising spirit of the American people.
21:31To paraphrase, yes, it is, it's our nature, it's our nature.
21:41To paraphrase Warren Buffett,
21:43since the founding of our nation,
21:45there has been no incubator
21:48for unleashing human potential like America.
21:53And we need to guard that spirit.
21:57We have to guard that spirit.
22:01Let it always inspire us.
22:04Let it always be the source of our optimism,
22:08which is that spirit that is so uniquely American.
22:13And let that then inspire us
22:16by helping us to be inspired to solve the problems
22:21that so many face, including our small business owners.
22:25So as I travel the country, what I hear time and again
22:29from those who own small businesses
22:30and those who aspire to start them,
22:33is that too often an entrepreneur has a great idea,
22:36not too often, that's good,
22:39and they have the willingness to take the risk,
22:43but they don't have access to the capital
22:46that they need to make it real.
22:48And as Andrea said, not everybody was handed
22:51on a silver platter $400 million
22:53and then filed for bankruptcy six times.
22:55Oh, I said that.
22:59I actually said that.
23:04Well, we can make it easier.
23:06We can make it easier for our small businesses
23:09to access capital.
23:10On average, it costs about $40,000 to start a new business,
23:15but currently the tax deduction for startups
23:19is only $5,000.
23:22So currently for startup costs,
23:25the tax deduction is $5,000.
23:28Well, in 2024, it is almost impossible
23:32to start a business on $5,000,
23:35which is why as president,
23:37I will make the startup deduction 10 times richer
23:40and we will raise it from $5,000 to $50,000 tax deduction,
23:52and provide low and no interest loans
23:55to small businesses that want to expand,
23:59all of which will help achieve our ambitious,
24:02some would say, but that's okay, let's be ambitious,
24:05our ambitious goal of 25 million
24:09new small business applications
24:11by the end of my first term.
24:13I know this is very achievable.
24:19And for anyone here who is a small business owner,
24:22works for a small business,
24:23or has a small business in your life,
24:27you understand what I'm talking about
24:29in terms of when we build up our small businesses,
24:33what that does to entire communities,
24:36it's to lift them up economically, civically,
24:39culturally, and in every way.
24:42Small businesses, the point being,
24:44help drive our economy.
24:47And they create nearly 50% of private sector jobs,
24:55and they strengthen our middle class.
24:57And if we can harness the entrepreneurialism
25:01of the American people and unlock the full potential
25:06of aspiring founders and small business owners,
25:09I am optimistic that no one will be able to outpace us.
25:14By contrast, Donald Trump, when he was president,
25:21has been described by one of the nation's
25:24leading experts on small businesses
25:27in a piece he published in a major paper
25:30as not being good for small businesses.
25:33In fact, the title, the title, wait,
25:36because I'm burying the lead right now.
25:40One of the leading experts on small businesses
25:43published a piece in one of the major newspapers,
25:46and the title, I'm gonna quote,
25:49does Donald Trump hate small businesses?
25:56And their answer was yes.
25:58Their answer was yes.
26:00Because at the same time that Donald Trump
26:03was giving a tax cut to big corporations and billionaires,
26:06he tried to slash programs for small businesses
26:11and raise borrowing costs for them.
26:14Instead of making it easier,
26:16he actually made it more difficult
26:18for them to access capital.
26:20And that's not surprising,
26:22because Donald Trump just does not
26:25prioritize small businesses.
26:27He does not seem to value, frankly,
26:30the essential role they play.
26:33But look, when I look at small business owners,
26:35I see some of the heroes of our economy.
26:38Not only entrepreneurs, but as I said,
26:40civic leaders, community leaders,
26:42part of the glue that holds communities together.
26:47The third pillar of our opportunity economy
26:52is leading the world in the industries of the future.
26:57And making sure America, not China,
27:01wins the competition for the 21st century.
27:13One of the recurring themes in American history
27:18is that when we make an intentional effort
27:21to invest in our industrial strength,
27:25it leads to extraordinary prosperity and security.
27:30Not only for years, but for generations.
27:34Think of Alexander Hamilton having the foresight
27:39to build the manufacturing capabilities of our new nation.
27:44Think of Lincoln and the transcontinental railroad.
27:49Think of Eisenhower and the interstate highway system.
27:54Kennedy committing America to win the space race
27:58and spurring innovation across our society.
28:04From our earliest days, America's economic strength
28:10has been tied to our industrial strength.
28:15And the same is true today.
28:18So I will recommit the nation to global leadership
28:23in the sectors that will define the next century.
28:27We will invest in biomanufacturing and aerospace.
28:33Remain dominant in AI and quantum computing,
28:37blockchain and other emerging technologies.
28:41Expand our lead in clean energy innovation
28:45and manufacturing.
28:52So the next generation of breakthroughs,
28:55from advanced batteries to geothermal to advanced nuclear,
29:01are not just invented,
29:03but built here in America by American workers.
29:15And we will invest in the industries
29:18that, for example, made Pittsburgh the steel city
29:23by offering tax credits for expanding good union jobs
29:30in steel and iron and manufacturing communities
29:33like here in Mon Valley.
29:38And across all these industries of the future,
29:41we will prioritize investments
29:44for strengthening factory towns.
29:47This is so important.
29:49For strengthening factory towns,
29:51retooling existing factories,
29:55hiring locally and working with unions
29:58because no one who grows up
30:01in America's greatest industrial or agricultural centers
30:07should be abandoned.
30:10And understand what that means for real people,
30:14people we know, people we care about.
30:18We don't have to abandon a strength we've known
30:23to achieve a strength that we plan.
30:27And here's what else we will do when I'm president.
30:32And here's what else we will do when I'm president.
30:37We will double the number of registered apprenticeships
30:41by the end of my first term.
30:50Because I almost made it a goal of mine,
30:52I think I am gonna fall short,
30:54but trying to visit every IBEW local in America
30:59because I'm gonna tell you those apprenticeship programs,
31:02those are tough duty, man, and women and everyone.
31:08They're tough duty.
31:09I mean, talk about the skills that are about engineering
31:13and science and math and just the most highly skilled folks
31:19who are in those apprenticeships and teaching there.
31:22And so one of the things we must do understanding that
31:25and understanding the nature of that part
31:27of our educational system is let's eliminate
31:32degree requirements while increasing skills development.
31:40And let's start with something I can do as president
31:44was ensure that we do that for the half million
31:48of federal jobs that are within our ability to make it so.
31:53Showing what is possible
31:56and then challenging the private sector
31:58to make a similar commitment to emphasizing skills
32:03and not just degrees.
32:13And we will reform our tax laws to make it easier
32:16for businesses to let workers share
32:19in their company's success.
32:21And I will challenge the private sector to do more,
32:25to lift up workers through equity, profits and benefits
32:29so more people can share
32:31in America's success and prosperity.
32:41And not only must we build the industries
32:45of the future in America, we must also build them faster.
32:50You know, there's a time for patience
32:53and there's a time for impatience.
32:56That's not in Ecclesiastics, but.
33:00Just want to script for a minute, Mayor.
33:05But the simple truth is in America it takes too long
33:08and it costs too much to build.
33:11Whether it's a new housing development,
33:13a new factory or a new bridge, projects take too long
33:17to go from concept to reality.
33:21It happens in blue states, it happens in red states
33:25and it's a national problem.
33:27And I will tell you this, China is not moving slowly.
33:33They're not.
33:35And we can't afford to either.
33:37If we are to compete, we can't afford to either.
33:42As president, if things are not moving quickly,
33:45I will demand to know why and I will act.
33:49I will work with Congress, workers and businesses,
33:53cities and states, community groups and local leaders
33:57to reform permitting, to cut red tape
34:02and get things moving faster.
34:05Because look, as I said, patience may be a virtue
34:08but not when it comes to job creation
34:11or America's competitiveness.
34:15Many of you know the Empire State Building,
34:18you know how long it took to build that?
34:21One year.
34:23The Pentagon, you know how long that took?
34:2616 months.
34:29No one can tell me.
34:31We can't build quickly in our country.
34:33I've got empirical evidence.
34:43Now look, my opponent Donald Trump,
34:45well, he makes big promises on manufacturing.
34:47Just yesterday, he went out and promised
34:49to bring back manufacturing jobs.
34:52And if that sounds familiar, it should.
34:56In 2016, he went out and made that very same promise
35:01about the Carrier plant in Indianapolis.
35:05You'll remember, Carrier then offshored
35:10hundreds of jobs to Mexico under his watch.
35:15And it wasn't just there.
35:17On Trump's watch, offshoring went up
35:21and manufacturing jobs went down across our country
35:26and across our economy.
35:27All told, almost 200,000 manufacturing jobs
35:32were lost during his presidency
35:35starting before the pandemic hit,
35:38making Trump one of the biggest losers ever on manufacturing.
35:44Donald Trump also talked a big game
36:02on our trade deficit with China.
36:05But it is far lower under our watch
36:09than any year of his administration.
36:12While he constantly got played by China,
36:17I will never hesitate to take swift and strong measures
36:22when China undermines the rules of the road
36:25at the expense of our workers,
36:28our communities, and our companies,
36:31whether it's flooding the market with steel,
36:35inferior, or at all,
36:39unfairly subsidizing shipbuilding,
36:43or hurting our small businesses with counterfeits.
36:47Recall, Donald Trump actually shipped
36:51advanced semiconductor chips to China,
36:56which helps them upgrade their military.
37:02Understand the impact of these so-called policies
37:07that really are not about a plan
37:10for strengthening our prosperity or our security.
37:15I will never sell out America
37:17to our competitors or adversaries, never, never.
37:25And I will always make sure we have the strongest economy
37:30and the most lethal fighting force anywhere in the world.
37:42So at this pivotal moment,
37:46we have an extraordinary opportunity
37:50to chart a new way forward,
37:53one that positions the United States of America
37:56and all of us who are blessed to call this home
38:00for success and prosperity in the 21st century.
38:06You know, there's an old saying
38:07that the best way to predict the future is to invent it.
38:14Well, that is the story of the steel city.
38:17That is the story of the steel city.
38:25The city that helped build the middle class,
38:29birth America's labor movement,
38:31empower the rise of American manufacturing,
38:35and the city where Alan Newell and Herbert Simon
38:38launched the first AI research hub at Carnegie Mellon,
38:47and created entirely new fields like machine learning,
38:52and Carnegie Mellon is now home
38:54to the largest university robotics center in America.
39:02So the proud heritage of Pittsburgh,
39:06I so strongly believe, reveals the character of our nation.
39:11A nation that harnesses the ambitions,
39:14the dreams, and the aspirations of our people,
39:19seizes the opportunities before us because we see them,
39:25because we believe in them,
39:28and then invents the future.
39:31That is what we have always done,
39:36and that is what we must now do,
39:40and I know we will.
39:41I thank you all for inviting me.
39:43May God bless you,
39:44and may God bless the United States of America.
39:47Thank you all.