U.S. Vice President Kamala Harris has garnered significant support from the business community as she prepares for a highly contested presidential election against former President Donald Trump. More than 90 CEOs have endorsed Harris for the presidency, citing her strong track record on economic issues and her commitment to American democracy.
High-Profile Endorsements
Among the notable endorsements are the chief executives of Yelp and Chobani, as well as former CEOs of major corporations such as PepsiCo, Ford Motor Co, and Yahoo. The endorsements come from a broad spectrum of industries, including top sports and investment executives.
In a letter supporting Harris, the group of CEOs expressed confidence that the Democrat would continue to drive economic growth and uphold democratic principles. “Harris has a strong record of advancing actions to spur business investment in the United States and ensure American businesses can compete and win in the global market,” the letter stated. “She will continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment.”
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Notable Supporters
Among those backing Harris are billionaire investor Mark Cuban, former 21st Century Fox CEO James Murdoch, and basketball legend Earvin “Magic” Johnson. Laurene Powell Jobs, head of the Emerson Collective and widow of former Apple CEO Steve Jobs, also endorsed Harris. The letter from Harris’s campaign also highlighted support from former CEOs of Merck, Aetna, GoDaddy, Blackstone, and Starbucks.
Harris vs. Trump: The Presidential Race
As Harris prepares for the November 5 presidential election, she faces a tight race against Donald Trump. Both candidates are outlining their visions for the future of the U.S. economy and democratic institutions. Early voting is set to begin in some states, further intensifying the campaign.
Harris’s economic plan focuses on cutting taxes for most Americans, addressing grocery “price gouging,” enhancing housing affordability, and introducing new child tax credits. She also aims to raise the corporate tax rate to 28% from the current 21%. Her proposals have received backing from key labor groups.
Trump’s Economic Promises
In contrast, Trump has pledged to lower the corporate tax rate to 15%, hire billionaire Elon Musk to audit the U.S. government, and open up national lands for large-scale housing projects. He has also vowed to declare a national emergency to remove regulations on energy projects.
Economic Projections
Goldman Sachs has projected potential economic impacts under both candidates. The firm anticipates that Trump’s presidency could lead to decreased economic output next year due to increased tariffs and stricter immigration policies. Conversely, a Harris administration is expected to foster stronger job growth and provide a “very slight boost to GDP” through increased investment and economic growth.
As the election approaches, the contrasting economic strategies of Harris and Trump highlight the significant choices facing American voters.
(Includes inputs from online sources)
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