U.S. Vice President Kamala Harris said Monday she is against the planned acquisition of United States Steel Corp. by Japan’s largest steelmaker, promising to build an economy that is good for working-class people, as her race for the White House against Donald Trump heads into the final stretch.
Regarding Nippon Steel Corp.’s plan, Harris, the Democratic Party’s presidential nominee, said at a Labor Day campaign rally in Pittsburgh that the U.S. producer should remain domestically owned and operated.
Harris, hoping to shore up support from blue-collar workers, attended the event with President Joe Biden, who abandoned his bid for a second term in July. While vowing to further strengthen the country’s manufacturing sector, she called U.S. Steel a “historic company.”
Democratic presidential nominee U.S. Vice President Kamala Harris delivers a speech next to labor union leaders at a campaign rally in Detroit, Michigan, on Sept. 2, 2024. (Kyodo) ==Kyodo
“It is vital for our nation to maintain strong American steel companies,” she said. “I couldn’t agree more with President Biden…and I will always have the back of America’s steelworkers and all of America’s workers.”
Advertisement
U.S. Steel, founded in 1901, is headquartered in the industrial city in Pennsylvania, a key battleground state in the Nov. 5 presidential election.
The Japanese and U.S. steelmakers announced the $14.1 billion acquisition deal in December. U.S. Steel and its shareholders have backed the takeover that would make it more globally competitive and create the world’s third-largest steelmaker by volume.
But the United Steelworkers union has spoken against the deal, turning it into a delicate political issue. The planned acquisition has not yet received U.S. regulatory approval.
Harris’ first remarks on U.S. Steel since she launched her presidential campaign are in step with those of Biden, who has said multiple times this year that the company should remain in American ownership, without explaining his rationale in detail.
The powerful labor union has endorsed Harris since Biden’s withdrawal from the race, due to age concerns and diminishing chances of defeating Trump, his predecessor and Republican presidential nominee for the third time.
Advertisement
Polls show that the 59-year-old vice president and Trump are neck and neck. The 78-year-old former president, who also views votes from working-class people as crucial, has said he will “block” Nippon Steel’s bid to acquire U.S. Steel should he return to the White House.
Late last month, Nippon Steel, the world’s fourth-largest steelmaker, unveiled an additional investment plan of over $1.3 billion in U.S. Steel’s two mills, a move seen as part of efforts to demonstrate its seriousness in boosting the smaller company’s business performance and realizing the takeover.
Although U.S. Steel is an iconic company, it ranked 24th globally last year, according to World Steel Association data.
During her remarks on Monday, Harris told the crowd that “not only has Pittsburgh shaped the history of America’s labor movement, today, you are also shaping its future.”
Labor Day is traditionally viewed as the start of the final phase of a U.S. presidential election.
Advertisement
The joint rally with Biden was Harris’ first since the president dropped out of the race on July 21. She said, “We are fighting to build an economy that works for all working people, and that has always been the vision of the labor movement, and that is the vision of our campaign.”
Earlier in the day, Harris visited Detroit in Michigan, also a swing state, for an event with labor union leaders and members, telling them that she stands by their side.
September 25, 20241:18 AM GMT+6Updated 2 hours ago
Sept 24 (Reuters) – Kamala Harris, the Democratic nominee in November’s presidential election, on Tuesday said she backed ending a procedural tool that currently requires a supermajority in the Senate to pass legislation to protect the right to an abortion nationally.
Since a 2022 Supreme Court decision overturned the Roe v. Wade ruling on abortion, about a dozen U.S. states have passed laws banning or severely limiting abortion rights, which has become a key issue in the 2024 election.
Advertisement · Scroll to continueReport this ad
Advertisement
Harris wants Congress to pass a national law codifying access to a safe abortion.
The support of 60 senators is required to pass most legislation in the upper chamber at present. On Tuesday, Harris said in an interview that she wants to lower the threshold to a simple majority.
“We should eliminate the filibuster for Roe… to actually put back in law the protections for reproductive freedom, and for the ability of every person and every woman to make decisions about their own body,” she told Wisconsin Public Radio.
Advertisement · Scroll to continueReport this ad
Democrats removed the filibuster in 2013 on judicial nominees and Republicans went further in 2017 to include Supreme Court nominees.
Advertisement
Some Democrats have called for getting rid of the 60-vote requirement entirely, but have yet to do so, partly due to opposition from centrist senators Joe Manchin and Kyrsten Sinema, who will not return to the Senate next year.00:0700:43
Harris says she will announce new economic plans this week
Advertisement
Summary
Harris expected to roll out proposals midweek, sources say
New plans would be released with less than 50 days to election
Harris, Trump trying to convince voters they would lower costs if elected
WASHINGTON, Sept 22 (Reuters) – U.S. Vice President Kamala Harris plans to roll out a new set of economic policies this week that aim to help Americans build wealth and set economic incentives for businesses to aid that goal, three sources with knowledge of the matter said.
The new policies, which have not been previously reported and could be announced in Pittsburgh on Wednesday, come as undecided voters continue to ask for more information about how Harris would help them economically if she were elected president in November, including those in critical swing states, the sources said.
Advertisement · Scroll to continueReport this ad
Harris, speaking to reporters on Sunday after Reuters reported the expected rollout, said she would outline her vision for the economy in a speech this week.
She added that the plan is about investing in the aspirations and ambitions of the American people while addressing the challenges they face.
The rollout would follow heated debate in Democratic circles over whether releasing more economic policies so close to election day is a smart strategy.
Advertisement
Advertisement · Scroll to continueReport this ad
“It’s not just about affordability, it’s also about showing (voters) they have a path to building wealth,” said one of the sources with direct knowledge of Harris’s economic plans, adding she wanted to show Americans how they can “get a foot in the door.”
None of the sources would provide specific details on the expected new policies, and the Harris campaign would not comment on any new proposals. However, Harris’ 2020 presidential run and President Joe Biden’s administration included plans with similar goals.
In her 2020 campaign, Harris proposed significant pay hikes for the millions of public school teachers, forcing companies to disclose their pay gap between men and women and penalizing those who are not narrowing it. The Biden and Harris administration have pushed to eliminate bias in home appraisals and use the over $700 billion federal contracting budget to buoy minority businesses.
Harris has released a basket of economic policies focused on the high cost of housing, taxes, small business expenses, childcare and goods. Her plans often build on Biden’s policies, like increasing the child tax credit and lifting the corporate tax rate to 28%.
Advertisement
Campaign spokesman James Singer did not comment on the story. He told Reuters that Harris “will continue to present her opportunity economy agenda to lower costs, make housing more affordable, and spur economic growth across America.”
Releasing new economic policy with less than 50 days left in a tight presidential election race could mean the new measures never reach crucial voters, some advisers acknowledge.
“Typically you’d see a campaign wrap up persuading voters by September and move to mobilizing people but this is not a typical campaign,” said a source with knowledge of the new plans, referring to Harris’ jump to the top of the ticket in late July. “We have to continue persuading and mobilizing folks at the same time until the very end.”
Republican Donald Trump’s economic proposals aimed at working-class Americans include eliminating taxes on tips and Social Security benefits, opening up federal lands to housing construction and deporting millions of immigrants to the country who Republicans say are driving up costs.
Trump has tried to pin on Democrats inflation that popped globally as the COVID-19 pandemic shutdowns eased and has made the still-high cost of groceries, particularly bacon, a rally speech staple. From 2019 to 2023, the food Consumer Price Index rose by 25%, the U.S. Department of Agriculture report, opens new tabed.
Advertisement
HARRIS GAINS ON ECONOMY
Republicans have traditionally polled better on the economy than Democrats, and Trump beat Biden and then Harris on the topic earlier this year.
Some polls, however, are shifting in her direction.
A Financial Times-Michigan Ross poll this month showed 44% of registered voters trusted Harris’ economic stewardship compared with 42% who backed Trump, and Reuters/IPSOS polling in August showed her narrowing the gap on the economy.
The Federal Reserve’s decision to cut interest rates by half a percentage point last week, reflecting the belief that inflation risks have fallen, could lower some costs for consumers.
Some Harris supporters have urged the campaign to double down on the economic message that is already out there instead of rolling out new ideas.
Advertisement
“My recommendation is to do more show-and-tells. Rather than address this with endless white papers, go to grocery stores and apartment buildings and more,” said Donna Brazile, a longtime Democratic strategist.
“Inflation may have gone down, but the cost of living hasn’t changed. Some of this is post pandemic and that still must be addressed,” she said.
Others believe more economic policy is not a priority. Adam Newar, a money manager and Harris donor said “it’s a character election” and not a policy election.
“I’m not sure what more policy information actually brings to the table. She really has to continue articulating a vision, communicate that vision to people who really feel like they’ve been left behind,” Newar said.
Many of Harris’ proposals would require congressional approval, and would be unlikely to pass unless Democrats win both the House and Senate.
Advertisement
The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.
Reporting by Nandita Bose; Additional reporting by Jeff Mason and Daphne Psaledakis; Editing by Heather Timmons and Marguerita Choy
Vice President Kamala Harris speaks at a campaign event in Atlanta on September 20, 2024. Joe Raedle/Getty ImagesCNN —
Kamala Harris entered September – and the closing weeks of the presidential campaign – with significantly more available campaign cash than Donald Trump, new federal filings show, after setting a grassroots fundraising record during her first full month as the Democratic presidential nominee.
Fundraising by the national Democratic committees focused on the battle for Congress also surged – with the party arm working to turn the US House blue collecting more than double the amount raised by its Republican counterpart in August. The House GOP campaign arm, however, reported a six-figure donation from billionaire Elon Musk last month as the party seeks to defend its razor-thin majority in the chamber.
And with Democrats riding a wave of donor enthusiasm, the latest filings with the Federal Election Commission also showed some key outside groups ramping up their activity, while a leading pro-Trump super PAC unleashed a massive wave of independent expenditures to help Republicans close the gap.
Harris’ surge
Harris has fully erased the financial edge that Trump momentarily gained over the summer, when the former president outraised President Joe Biden in two of the final three months before Biden withdrew from the race in late July. The vice president took in nearly $190 million directly to her campaign in August – more than quadrupling the $44.5 million that the Trump campaign said flowed to its principal campaign account that month.
The Harris campaign also dramatically outspent the Trump campaign in August, burning through about $174 million. It plowed most of that into advertising – $135 million – as it raced to introduce Democrats’ newly minted nominee to voters on an abbreviated schedule. Some $6.4 million went toward payroll expenses and $4.5 million to text-messaging outreach.
Despite the spending spree, Harris’ main campaign account entered September with $235 million in available cash, far surpassing the $135 million remaining in Trump’s coffers, the latest FEC records show.
Advertisement
The late Friday night filings offer just one snapshot of candidates’ financial strengths.
The Trump and Harris campaigns are aligned with an array of committees that file disclosure reports on a separate schedule. Harris’ broader network announced it had raised a combined total of $361 million in August, nearly triple the $130 million Trump’s operation said it brought in.
Harris’ fundraising dominance has helped give Democrats a significant edge in advertising bookings this fall, including in key battleground states. And the vice president and her allies are overwhelming the former president’s presence on social media. Democrats have spent $137 million across digital platforms since Harris effectively became the party’s standard-bearer in late July – more than triple Republicans’ spending, a CNN analysis of data compiled by the ad-tracking firm AdImpact shows.
Party power
Friday’s campaign reports show that the Democratic Congressional Campaign Committee – the party arm engaged in House races – significantly outraised its GOP counterpart, the National Republican Campaign Committee, $22.3 million to $9.7 million.
The DCCC also entered September with more cash on hand, $87.3 million to $70.8 million for the NRCC, funds that could be pivotal in a highly competitive battle for the House, where Republicans are defending a narrow majority.
Advertisement
One of the notable donors seeking to help House Republicans stem the Democratic tide of cash: billionaire Elon Musk, who records show gave the House GOP campaign arm $289,100 in August, the largest federal donation disclosed by Musk so far this cycle as he steps up his Republican giving.
Tesla CEO Elon Musk, top row, second from right, is seen during a joint meeting of Congress at the US Capitol in Washington, DC, on July 24, 2024. Kevin Mohatt/Reuters/File
The tech magnate – the world’ richest person – endorsed Trump in July. And in another indication of his growing political influence, a super PAC Musk helped form recently ramped up its activity in the presidential contest, spending more than $40 million since mid-August. That includes more than $22 million on canvassing efforts on Trump’s behalf, helping to fill in a critical role. The Trump campaign, as CNN has previously reported, has opted to outsource much of its ground game operation to outside organizations.
Party committees focused on Senate races raised comparable amounts last month.
Advertisement
The National Republican Senatorial Committee brought in $19.1 million and its Democratic counterpart, $19.2 million. Each spent more than it raised, with the Democratic Senatorial Campaign Committee spending $31.6 million and the NRSC, $26.5 million.
Democrats narrowly control the chamber but face an unfavorable landscape this year as they defend several seats in states that have previously backed Trump.
Outside groups
Harris’ fundraising prowess has put pressure on a network of outside groups supporting the former president to help close the money gap.
MAGA Inc., a leading pro-Trump super PAC, spent more than $88 million in August alone on independent expenditures on behalf of the former president’s campaign, funding a blitz of TV advertising, according to its monthly filing. That’s more than MAGA Inc. has spent in any month this year and roughly twice as much as it spent in July.
The super PAC received a total of $25 million last month from a range of wealthy supporters, including $10 million from Wisconsin roofing billionaire Diane Hendricks and $5 million from billionaire financier Paul Singer. It ended August with $59.4 million in cash on hand.
Advertisement
On the Democratic side, FF PAC, a leading pro-Harris super PAC, reported raising nearly $37 million last month, with $3 million coming from Facebook co-founder and billionaire investor Dustin Moskovitz – by far his largest federal donation of the election cycle. The super PAC spent more than $77 million in August, including nearly $62 million on independent expenditures to benefit the vice president’s campaign.
CORRECTION: This story has been updated to accurately reflect Dustin Moskovitz’s August contribution to FF PAC.