'Cut Red Tape': Harris Proposes $100 Billion To Rebuild America's Industrial Base

Kamala Harris proposed a $100 billion investment package to revitalize key sectors of the U.S. economy.

Speaking in Pittsburgh on Wednesday, the Vice President outlined her vision for an “America Forward” strategy to boost domestic manufacturing, support workers and maintain U.S. tech leadership.

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The plan, which Harris describes as "pragmatic" and worker-focused, includes tax credits for investments in biotech, clean energy, semiconductors and AI. The incentives are designed to encourage companies to invest in American facilities and create high-quality jobs, emphasizing supporting union workers and communities with long-standing manufacturing traditions.

Harris spoke about the importance of prepping the American workforce for future industries, according to Politico. She pledged to eliminate unnecessary degree requirements for 500,000 federal jobs and set a goal to double the number of registered apprenticeships by the end of her first term. 

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The vice president also promised to invest in STEM education and expand partnerships between businesses, unions and educational institutions to create new training opportunities.

The proposal includes measures to streamline the building process for new industrial projects. "Building More – and Faster – by Cutting Red Tape" was a theme in Harris' economic plan issued Wednesday; it acknowledged the challenges of lengthy timelines and high costs associated with construction in the U.S.

She committed to reforming permitting processes to accelerate project development while maintaining environmental protections and community input.

Financing: Harris said the $100 billion investment would be funded through international tax reform, which aims to prevent corporate tax avoidance strategies.

The vice president’s economic agenda differs from that of former President Donald Trump, who is advocating for further tax cuts and increased tariffs on imported goods. Harris criticized Trump’s record on manufacturing, according to Politico, saying that nearly 200,000 manufacturing jobs were lost during his presidency before the pandemic.

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While Harris’s plan provides more detail than her opponent’s proposals, some economists and political analysts question whether voters will find her message as compelling as Trump’s punchier economic promises.

According to the Washington Post, recent polls show that Harris narrowed Trump’s lead on economic issues but still faces challenges in convincing voters of her economic vision.

The difference between Harris’s policy proposals and Trump’s broad economic slogans will likely remain a central theme as the election approaches. The effectiveness of Harris’s strategy in winning over blue-collar voters, particularly in key swing states like Pennsylvania, could prove important in determining the outcome of the presidential race.

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