Harris sees 'next generation of breakthroughs' built by U.S. workers. AI, crypto could benefit.

By Victor Reklaitis

Democratic presidential nominee also leans into tax cuts, quotes Warren Buffett as she gives economic speech in Pennsylvania

Democratic presidential nominee Kamala Harris pledged to support cutting-edge industries and middle-class workers while touting her previously released plans, as she delivered an economic address Wednesday in the swing state of Pennsylvania.

"I will recommit the nation to global leadership in the sectors that will define the next century," she said in a speech at the Economic Club of Pittsburgh. "We will invest in biomanufacturing and aerospace, remain dominant in AI and quantum computing, blockchain and other emerging technologies, expand our lead in clean-energy innovation and manufacturing, so the next generation of breakthroughs - from advanced batteries to geothermal to advanced nuclear - are not just invented but built here in America by American workers."

Harris promised to be pragmatic, adding that "part of being pragmatic means taking good ideas from wherever they come." She said while she has taken on big companies during her career, she thinks "most companies are working hard to do the right thing by their customers and the employees who depend on them, and we must work with them to grow our economy."

In talking up the plans that she already has rolled out, the vice president described her proposal to expand the child tax credit as a tax cut for the middle class, and referred to her housing proposal as aimed at addressing one of the "biggest drivers of cost for the middle class." Harris also cited billionaire investor Warren Buffett while mentioning her plan for a bigger tax break for startups and other small businesses.

"To paraphrase Warren Buffett, since the founding of our nation, there has been no incubator for unleashing human potential like America, and we need to guard that spirit," she said.

The campaign for Republican presidential nominee Donald Trump blasted Harris in a statement ahead of her speech, saying: "If Kamala was serious about protecting American workers and their jobs, why hasn't she done it already?"

In his own economic speech on Tuesday, the former president offered promises to reverse offshoring by American manufacturers, saying he would appoint a manufacturing ambassador who would convince major companies to move production back to the U.S.

-Victor Reklaitis

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09-25-24 1702ET

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