Published August 16, 2024 2:03pm EDT
Tim Scott says Americans 'smarter than' Harris on economy amid release of controversial plan
Vice President Kamala Harris' campaign revealed a proposed sweeping economic overhaul on Friday
By Julia Johnson FOXBusiness
Sen. Tim Scott, R-S.C., shredded Vice President Kamala Harris' economic proposal on Friday, which laid out a sweeping overhaul including broad cross-industry price-fixing and $25,000 government-subsidized down payments for first-time home buyers.
"The American people are smarter than Kamala Harris when it comes to the economy," the Senate Committee on Banking, Housing, and Urban Affairs Ranking Member told Fox News Digital in an interview.
"The ‘price-gouging’ that they've experienced has come at the hands of Kamala Harris and Joe Biden," Scott said. "When you artificially stimulate the economy by the federal government and the Democrats spending trillions of dollars, the net effect is high inflation, high interest, high demand and lower supply."
Scott explained, "You cannot put trillions of dollars into our economy and not expect prices to go up."
Harris' presidential campaign laid out her economic policy proposals on Friday morning ahead of her afternoon speech on the subject at a campaign stop in Raleigh, North Carolina. The agenda focuses on cracking down on corporate "price gouging" in the food industry, and Harris plans to implement a first-ever federal ban on it.
Additionally, Harris' plan would drastically expand the child tax credit, allowing up to $6,000 during a child's first year. The proposal would also extend prescription drug price caps to everyone rather than just senior citizens. It would further establish a $40 billion fund for assistance to local governments to build more housing, as well as take on landlords to prevent certain rent increases.
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https://www.foxbusiness.com/politics/tim-scott-says-americans-smarter-harris-economy-amid-release-controversial-plan
