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good to be with you. i'm katy tur in for chris jansing. vice president kamala harris is about to stake her own positions in what we're told will be a big economic policy speech she'll be giving in 45 minutes. she'll be addressing a crowd talking grocery prices, housing costs and child care. will she directly rebut any of what donald trump claimed about the economy when he talked about the economy yesterday. we'll talk to a senior campaign adviser about her plans in just a moment. plus, a tribute to joe biden from his wife. new nbc news reporting about the first lady's role at the dnc after some hard feelings about the way her husband was

pressured to drop out. >> and encasing him in bullet proof glass, the secret service is making a barrier, like the pope mobile without the wheels. before we get to that, let's start with vp harris on the 27th day of her presidential candidacy, she's getting down to the nitty-gritty, unveiling what her team is calling a meaty economic policy vision, the stuff she'll prioritize for her first 100 days in office. including the first ever federal ban on corporate price gouging for food and groceries. a $6,000 child tax credit, and a major boost to housing assistance. the plans lean away from president biden's focus on job creation and toward cost of living, which poll after poll tells us is top of mind for voters. making it unsurprisingly top of mind for both candidates, harris and donald trump. here, in fact, is a moment for donald trump's long and winding

news conference yesterday when he sort of focused on prices. >> now, kamala is reportly reporting communist price controls. if they worked, i would go along with it too. they don't work. they have the opposite impact and effect. what a nice job, i think i'm going to take some back to my cottage and have a lot of fun. like the cheerios. bacon is through the roof. they're all through the roof. the milk, everything is bad, and we're going to straighten it out. we're going to bring prices down. >> joining us now, nbc's garrett haake who covers the trump campaign for us. communications director, republican strategist, doug hie, and cnbc analyst, ron insana. calling it his cottage reminds me of a small million dollar loan. talk to me about what he talked about yesterday. did he talk much about the

economy? >> reporter: he talked about prices and inflation, which his campaign believes is a more tactile thing than the economy broadly. donald trump likes to talk about the stock market. that's not something most people pay day-to-day attention to. but they pay day-to-day attention to their grocery prices and that's why he was surrounded by props yesterday. this has been the struggle for the campaign. they can put structure around him and try and keep him focused on one particular issue. donald trump is going to talk about what donald trump wants to talk about, especially at an event like that. he did hit on the economic message that his campaign hopes will resonate with people fed up with high grocery prices, high gas prices. he wanted to play the field on other issues that made it hard to drive the message that wants to breakthrough. >> doug, i want to list out what donald trump talked about yesterday in the cost of living, inflation prices, news conference. he talked about wind energy, ruining everything.

the new york court system being vicious. telling people that they're going to be thrown into a communist system where everybody gets health care, talked about the assassination attempt. the guy was a good shooter, he says. there should be paper ballots and only one day of voting. she called me weird. she called j.d. weird. we're not weird. he said, they want to put them in prison. they want to interfere. they want to sentence right before the election. so a lot of stuff. the campaign, and i bring this up because the campaign wants him to talk about policy. they don't think the personality works for him any longer. what do you think? >> everything you listed is sort of the word salad we hear from trump. the way the event was set up in bedminster made it clear that this was going to be about prices until donald trump started speaking. that's the challenge the campaign faces. that's the eternal challenge they face. it's gotten harder. if you look at the management of the campaign, susie wiles and

chris, the things that are most unpopular in the biden/harris administration, which kamala harris owns part of. you have a new team coming in. their motto is let donald be donald. this is the struggle we're going to see. a removal object versus a resistible force. >> donald trump ran on vibes in 2016, he won on vibes, but the vibes right now, the momentum on the vibes are leaning heavily toward kamala harris, which means you have a lot of analysts saying don't lean so much on the policy, lean on your personality. if you read about any analytical piece today, any strategist piece today, all are saying if you're going to talk about one policy, talk about cost of living, which is what you're going to hear from harris. she might be earlier than 2:45 we're told. we're going to keep our eyes on this. she's going to talk about cutting taxes.

get people money for their down payments, also to had more housing to country. health care, we heard a little bit yesterday about prescription drug prices, lower grocery costs, price gouging at the grocery store. this is clearly showing that she's listening to the polls. she sees what people care about. >> yeah, i think she's hitting people right where they live with respect to the policy prescription she's putting forward. whether or not you can identify price gouging in a meaningful way and legislate or regulate it away is an open question. the housing front, it's interesting. because she's not just offering price supports but is also suggesting there will be incentives to build new housing, we're short 4 1/2 million homes in the united states relative to demand, and she's got a proposal put forth to incentivize the building of 3 million homes. to alleviate the supply shortage we have which is a bigger problem than most people realize. housing is quite complex at the moment. >> i wonder if she's going to

talk about regulation. part of the issue with housing is zoning. it's environmental regulations. it's stuff that gets in the way, makes it a whole lot costlier to build. in fact, if you look at red states, a lot of red states are building faster and more easily than blue states. >> that's california, new york, and other places that have really restrictive zoning laws about putting up new housing. some of this, in fact, is not national, in terms of where the solution lies. it's at the state level, the local level, the municipal level where the various zoning restrictions exist. getting states or localities to ease up would also help to bring more supply to market, and don't forget a lot of people have mortgages locked in at 2, 3, and 4%, and are unwilling to sell. >> if you have a 3% mortgage, you don't want to sell to buy anything with a 6, 7% mortgage. 6 if you're lucky, if a bank really likes you. let's go to kelly o'donnell, our senior white house

correspondent. kelly, this is the first big economic or first big policy speech from harris. and she's deviating a little bit from president biden. explain the deviation. >> well, part of what the white house would say is she is building on what president biden has had as his portfolio the last few years. part of what she's trying to do is focus on some of the areas where people are feeling the pinch most right now, and i'm sure you've been discussing this in the time it took to get to you here. part of what she's trying to focus on has to do with making parents more affordable so that families can get a stronger financial basis under them. certainly the vice president has long believed that when families have some relief when it comes to the things they have to buy from child care to groceries and of course shelter, all of that makes life a calmer, more stable start for families with young children, and so some of what you see is reflected in the

various policies here with tax credits, with incentives for more home affordability and so forth. and part of what she's trying to do is sort of touch a populist version of some of the policies that are important right now for democrats, and it centers on those things. affordability. they don't want to walk away from the strong belief that the biden administration has that there are, in fact, lots of things in the economy that shows strength. they want to recognize that that doesn't mean people are feeling it the same way. we have seen how prices have not come down in a number of sectors. they have gas and some groceries, but not in a broad way that people feel like their dollar goes further told. she's trying to address some of those things. this is a test, politically, for kamala harris now because we've seen in the initial weeks of her candidacy at the top of the ticket, as opposed to being biden's running mate, she's focused a lot on a vision of personality, all of those things

introducing herself to the country. this is a bit more nuts and bolts, and at the same time, these kinds of policy proposals are about talking about what you'd like to see happen as you certainly know getting it done depends on who gets elected in congress, and how it would all play out over time. so these are ideas that are a jumping off point. populism on the conservative side has certainly been in the national conversation for a long time, and there are elements of this on the liberal side that she's bringing to bear. this will be a real test today, politically, of can the enthusiasm that's been around her early candidacy translate on a day when she's talking about things that are very relatable and also raise lots of questions, and certainly detractors who believe that some of this is too much, and very costly. >> so, kelly, why north carolina, and why this particular venue? we have seen vp harris at really big events recently, and this looks much more intimate.

can you give us more about the decision to have it there and in this place? >> reporter: well, staging big events is costly, and has enormous security concerns. so having some of the smaller policy driven speeches and events, serves practical purposes for the campaign. north carolina itself is about trying to make a very strong statement that that state is in play again when during a period not so long ago, it was wildly felt that north carolina was within the reach of donald trump and not so much joe biden, so part of it is that. also, there is a lot in raleigh in terms of the kind of local economy that speaks to this. needs for housing, a high-tech community, and they have the kind of diversity of voters that she really wants to address. it's an important media market locally. an important electoral state in the battle grounds and more manageable sized events are really in keeping with a kind of policy rollout.

you save the big, loud arenas for days that are big about endorsement asks introductions, and they just don't quite have enough staff. >> she's going to be doing a big loud arena next week. she's going to milwaukee. >> she's got chicago locked in. >> and milwaukee, holding a rally where donald trump was nominated in the very large stadium in that city. >> reporter: katy, one of the differences, donald trump likes to sit in his conventions night after night. that is not the tradition if you go back a couple of cycles ago. she'll do a more traditional thing of being out campaigning in another battleground state while her party is building its big celebration and policy rollout and the venue for all the other big speakers. that's a more traditional way of getting to your convention is to hold some rallies. >> doug, i want to talk about who she's targeted. both her and trump are targeting when they're talking about cost

of living. she's going to go out and say she worked at mcdonald's, she understands people who have had to work that hard for that little money. donald trump was given an inheritance, a small million dollar loan. he hasn't had that experience. who are they trying to convince right now? >> one in eight americans have worked at mcdonald's, that is a big segment of the country. >> i worked at a pizzeria. >> i worked at a mr. barbecue in winston, north carolina. donald trump was there. as brendan buck knows, i have been talking about north carolina for four years now, and sort of under the radar. joe biden spent a lot of time in north carolina, so did kamala harris, secretary pete, they were spending people there because they knew they had a chance to at least make the trump campaign spend some resources there, whether or not they could win it. it's very clear now that this state is up for play. so as kelly talked about, she's targeting those people in raleigh, in the suburban wake county area. same thing, we'll see her in or

just outside of charlotte as well. maybe in asheville where trump just was. they have an opportunity here. i have spent a lot of time in raleigh. i'll be there next weekend as well. the thing i hear the most is what everything costs. you go to sam jones barbecue, the price of the chopped plate and the hush puppies, and they're fantastic by the way, they're never going down from where they are now. voters are feeling that, and they're putting the blame on the biden harris administration. that's what she has to address. >> how much is it? >> i think it's about $11 now. that's eastern style. i'm lexington style. >> $11 for lunch sounds great, frankly. i can't get an $11 lunch in new york city anywhere. >> costs more with the hush puppies, you leave with sides, a family of four, that gets really expensive quick. >> they put sugar in the iced tea. garrett, you want to add to the conversation?

>> kansas city barbecue is superior, but look, it's not an accident that donald trump was in asheville in western north carolina two days ago for his economic rollout. his campaign understands that there's basically no path to 270 electoral votes that doesn't include holding on to north carolina. that's by far the sort of lynch pin state. it doesn't get him there, but if he loses it, he's got a huge math problem on election night. they're spending a lot of time and resources making sure that north carolina stays red. >> one of the great things about being on the campaign trail, as everybody knows here, is you get just a great amount of great food, and when you go to the south, the highlight is the barbecue. >> absolutely. >> rendezvous ribs with bill clinton. >> we could all list them off. we should go to social media and give our recommendations. garrett haake, thank you very much. doug hie, appreciate it. and kelly o'donnell.

let's bring in a senior economic adviser to the harris/walz campaign. he's going to join us with a preview of the vice president's speech today. don't go anywhere. we will be back in 90 seconds. here's to getting better with age. here's to beating these two every thursday. help fuel today with boost high protein, complete nutrition you need, and the flavor you love. so, here's to now... now available: boost max! hi, i'm michael, i've lost 62 pounds on golo and i have kept it off. so, here's to now... most of the weight that i gained was strictly in my belly which is a sign of insulin resistance. but since golo, that weight has completely gone away, as you can tell. thanks to golo and release, i've got my life and my health back. [introspective music]

recipes. recipes that are more than their ingredients. ♪ [smoke alarm] recipes written by hand and lost to time... can now be analyzed and restored using the power of dell ai. preserving memories and helping to write new ones. ♪ a plan to address the, quote, pain points for american families is how the harris campaign is defining the

economic proposal she will be unveiling just a few minutes from now in north carolina. let's bring in gene spurling, senior economic adviser to the policy team on the harris/walz campaign. it's good to have you. i think you're on mute my friend. no, you're not. good. tell me all about this proposal that we're about to hear from vp kamala harris. >> well, i think your conversation has been on target. she's going to come out of the block like a laser beam on the cost issues that are most affecting families, groceries, rent, and prescription drugs. and she's going to be very open and cognizant that she gets it, that even though inflation is coming down, even though unemployment's still low, that people are upset, and she's upset that food prices, rent prices are still higher than they were, and she's going to make clear that she has policy solutions and that she is also

going to be quite tough when she sees major corporations or others not lowering prices in order to do illegal things or to price gouge. and you've already heard some of that in terms of a new federal law outlawing price gouging in the grocery meat sector. you're going to hear a comprehensive plan on housing. this is something i have heard from here for years. she thinks this is perhaps the number one issue for so many families, and that means rent. but it also means the ability to get a down payment to buy your own home, so as ron insana was saying earlier, she has a major proposal, new funding to close completely in her first term, the affordable housing gap, and, yes, the first ever tax cut that goes to building affordable starter homes sold to first time home buyers.

she's going to make sure there's a big fund to help local governments overcome the zoning challenges and build more affordable housing, and she's taking on the algorithmic price fixing we have seen that's led to higher rents, as well as the situation we see when major private equity firms are buying up single homes, and really hurting home prices in communities. again, finally, as i said, down payment assistance. she's going to call this an opportunity economy, and you've heard her, she doesn't want you to just get by. she wants people to get ahead. she knows home ownership, having the nest egg, creating some wealth. that's been the ticket for generations of americans. >> i'm curious to talk a little bit more about zoning. first i want to go back to price gouging at the grocery store. can you tell me how vp harris will define price gouging? >> well, we're not trying to do every detail, but let's note a couple of things. the census shows that, and our

council of economic advisers, showed that in february you were still seeing profit margins at the highest level in 20 years. the new york fed showed that even when costs were pretty stable that retail margins were going up 50%. look, she's a sophisticated person about markets. she knows people use pricing power. she knows prices go up and down. what she did when she was attorney general of california, she wasn't out there trying to set prices for people. she was going after bad behavior, whether it was corinthian, a for-profit college, whether it was pharmaceuticals, whether it was the big banks where she got the $20 billion settlement, so she's going to be looking for bad behavior, and i think, look, we went through the pandemic. you saw millions of american front line workers put their lives on the line. there's just not a lot of

toleration for people deciding that when their cost and supply chain issues are coming down that they're going to jack up their profit margins as opposed to pass on those savings for working families. >> and i do want to, you know, note that you said she got a big settlement from the big banks when she was attorney general. it was a settlement that was around 2 billion to $4 billion. she writes about this in her book, getting on the phone with jamie dimon, and hashing it out with him. the settlement then went up to 18 to $20 billion in california for people who were victims of the housing crisis back then. but i want to ask about defining gouging at the grocery store. you talked about retail profits. i want to ask specifically about groceries, though, because according to the analysis that i've read, and i can see you're much more well versed on this than i am, it's not just price

gouging, it's supply chain issues. it's cost issues at the farm level. there's all sorts of stuff that goes into how much a bunch of bananas cost at the grocery store. it's not just a corporation saying, you know, i want these bananas to be a dollar each instead of $0.50. >> that's why i mentioned profit margins being higher than they were in 20 years. if your costs are high because of supply chains or the war in ukraine, yes, you know, we understand that will lead prices to be higher. but when your profit margins are higher than historically, that means that even with your costs, you're making a decision to keep prices and profit margins high as opposed to passing those on at lower prices. and we think that there are examples, you know, until the middle man area where there are markups, where there are pay

backs. so what i would say to people is she is not doing this to try to, like, have the government in any way make determinations on all pricing power and markets going up and down. she wants the federal government to have the power to signal to companies, particularly when we're in a time of crisis, that we are going to be looking for illegal behavior. negative, unfair behavior where you're taking advantage of a crisis to jack up the profits at the expense of working families who still feel rightly that they are still paying too much for basic things like meat and eggs. >> i might have to interrupt you because this gentleman right here will be introducing vp kamala harris in a moment. let me ask you about the zoning you spoke about, loosening zoning restrictions to get more homes built. it's an issue, especially in blue states and blue cities. there are a lot of zoning

restrictions that make it more difficult to build and build quickly. how would those work? >> well, what she's doing, a $40 billion innovation challenge. we're not going to get into the details of what each local government does. we're going to do more like she did in the american rescue plan. we're going to give funds but we're going to say you only get those funds if you can show results. we've seen that in nevada where they created thousands and thousands of new senior rental units. we have seen it in detroit and milwaukee, where they have increased supply. so we're going to judge results. we're not going to tell people precisely what to do, and it looks like my boss is about to come on stage. >> you know when to stop speaking my friend. thank you very much. you're right. vp kamala harris is taking the stage there in raleigh, north carolina. she's getting a big cheer from the crowd. so we're going to dive in right now, see how it goes.

let's listen. how it goes let's listen >> hello, family and friends. [ cheers and applause ] it's good to be back in north carolina. oh, it's good. oh, it's good to see everyone. good afternoon, everyone. please have a seat, if you have a seat. please have a seat. mike b, so mike b's barbecue, let me tell you one of the biggest fans of mike b's barbecue, my husband doug emhoff, and thank you, mike, for sharing your story, and i'm just so sorry for what your family has been through, but you have out of an incredible tragedy done so much for the community, and you are such a role model,

so, thank you, mike, for everything you do. thank you. and good afternoon to everyone here. thank you to all of the incredible leaders with us today, including my friend, the governor, roy cooper, where is he? here with his daughter. every time i land in north carolina, just literally coming down the stairs of air force 2, i will shout to roy cooper, what number is it, roy, and today he shouted 16, which is the number of times i've been in this beautiful state since i have been vice president. every time. i want to thank your next governor, attorney general josh stein. he's doing incredible work. he's going to be an extraordinary governor.

representatives adam bunning, buche and nichol, thank you all for your support, your friendship, for your leadership. chair thomas of the wake county board of commissioners, thank you for all that you do. and to all the leaders that are here today, including the students and instructors here at wake tech north. thank you. so thank you, all. so listen. this election i do strongly believe is about two very different visions for our nation. one, ours, focused on the future, and the other focused on the past. we see that contrast clearly in many ways, including when it comes to how we think about the economy. so our country has come a long

way since president biden and i took office. at that time we sadly remember the millions of americans that were out of work. we were facing one of the worst economic crises in modern history. and today by virtually every measure, our economy is the strongest in the world. we have created 16 million new jobs. we have made historic investments in infrastructure, in chips manufacturing, in clean energy. and new numbers this week alone show that inflation is down under 3%. [ applause ] and as president of the united states, it will be my

intention to build on the foundation of this progress. still, we know that many americans don't yet feel that progress in their daily lives. costs are still too high, and on a deeper level, for too many people, no matter how much they work, it feels so hard to just be able to get ahead. as president, i will be laser focused on creating opportunities for the middle class that advance their economic security, stability and dignity. together, we will build what i call an opportunity economy. an opportunity economy. an economy where everyone can compete and have a real chance to succeed. everyone, regardless of who they

are or where they start has an opportunity to build wealth for themselves and their children. and where we remove the barriers to opportunity so anyone who wants to start a business or advance their career can access the tools and the resources that are necessary to do so. >> i will focus on cutting needless bureaucracy and unnecessary red tape, and encouraging, and encouraging innovative technologies while protecting consumers. and creating a stable business environment with consistent and transparent rules of the road. as president, i will bring

together labor with small businesses and major companies to invest in america. to create good jobs. achieve broad-based growth. and ensure that america continues to define the future and lead the world. [ applause ] and key, key to creating this opportunity economy is building up our middle class. it is essential. the middle class is one of america's greatest strengths. and to protect it, then, we must defend basic principles, such as your salary should be enough to provide you and your family with

a good quality of life. [ applause ] such as, no child should have to grow up in poverty. [ applause ] such as after years of hard work, you should be able to retire with dignity. [ applause ] and you should be able to join a union if you choose. building up the middle class will be a defining goal of my presidency. because i strongly believe when the middle class is strong, america is strong. [ applause ] so in the weeks to come, i will address in greater detail, my plans to build an

opportunity economy, and today, i will focus on one element that's on the minds of many americans as they pay their bills at the kitchen table or walk the aisles of a grocery store. and that is lowering the cost of living. [ applause ] so every day across our nation, families talk about their plans for the future, their ambitions, their aspirations for themselves, for their children. and they talk about how they're going to be able to actually achieve them financially. because, look, the bills add up. food, rent, gas, back to school clothes, prescription medication. after all of that, for many families, there's not much left at the end of the month.

i grew up in a middle class household. for most of my childhood, we were renters. my mother saved for well over a decade to buy a home. i was a teenager when that day finally came, and i can remember so well how excited she was. i kind of understood what it meant, but we called her mommy. mommy was so excited. it made us excited that she was excited. later in college, i worked at mcdonald's to earn spending money. well, some of the people i worked with were raising families on that paycheck. they worked second or even third jobs to pay rent and buy food. that only gets harder when the cost of living goes up. when i am elected president, i will make it a top priority to bring down cost and increase economic security for all

americans. as president, i will take on the high costs that matter most to most americans, like the cost of food. we all know that prices went up during the pandemic when the supply chains shut down and failed. but our supply chains have now improved. and prices are still too high. a loaf of bread costs 50% more today than it did before the pandemic. ground beef is up almost 50%. many of the big food companies are seeing their highest profits in two decades. and while many grocery chains pass along these savings, others still aren't. look, i know most businesses are

creating jobs, contributing to our economy, and playing by the rules. but some are not. and that's just not right. and we need to take action when that is the case. [ applause ] as attorney general in california, i went after companies that illegally increased prices, including wholesalers that inflated the price of prescription medication. and companies that conspired with competitors to keep prices of electronics high. i won more than $1 billion for consumers. so believe me, as president i will go after the bad actors.

and i will work to pass the first ever federal ban on price gouging on food. my plan will include new penalties for opportunistic companies that exploit crises and break the rules, and we will support smaller food businesses that are trying to play by the rules and get ahead. we will help the food industry become more competitive. because i believe competition is the life blood of our economy. more competition means lower prices for you and your families. [ applause ] now compare what donald trump plans to do.

he wants to impose what is in effect a national sales tax on everyday products and basic necessities that we import from other countries. that will devastate americans. it will mean higher prices on just about every one of your daily needs. a trump tax on gas, a trump tax on food, a trump tax on clothing, a trump tax on over-the-counter medication. and, you know, economists have done the math. donald trump's plan would cost a typical family $3,900 a year. at this moment, when every day prices are too high. he will make them even higher. as president, i'll take on the

issue of the cost of health care. as attorney general, i took on insurance companies and big pharma and got them to lower their prices. and together, with president biden, we've gone even further. we capped the price of insulin at $35 a month, and the total cost -- and the total cost of prescription drugs at $2,000 a year for seniors. we let medicare negotiate lower drug prices for seniors, and just yesterday we announced that we are lowering the price by up to 80% for ten more life-saving drugs [ cheers and applause ]

and prescription drugs for everyone with your support, not only our seniors. and demand transparency from the middlemen who operate between big pharma and the insurance companies who use opaque practices to raise your drug prices and profit off your need for medicine. two months ago, i announced that medical debt will no longer be used against your credit score. and i will work as president with states like here and north carolina, roy cooper, thank you, again, to cancel medical debt for more and more, millions more

americans. as for donald trump, he wants to repeal the affordable care act. [ booing ] >> 45 million americans rely on it for health care. that would take us back to a time when insurance companies could deny people with preexisting conditions. we all remember what that was. and we're not going back. [ chanting we're not going back ] back ] and, remember, this is why we're not going back because we do remember, he tried to cut medicare every year he was president. threatening a program that tens

of millions of seniors count on. and according to his project 2025 agenda, he intends to undo our work to bring down prescription drugs, the cost of prescription drugs, and insulin costs. well, we've come too far to let that happen. that happen. so we're not going back on that. and let's talk about the cost of housing. so now the housing market can be complicated, but, look, i'm not new to this issue. as state attorney general, i drafted and helped pass a homeowner bill of rights. one of the first in america. and during the foreclosure crisis, i took on the big banks for predatory lending with many of my colleagues, including roy cooper and won $20 billion for

california families when i was attorney general. [ applause ] now, i know how to fight for people who are being exploited in the housing market. and i know what home ownership means. it's more than a financial transaction. it's so much more than that. it's more than a house. home ownership and what that means, it's a symbol of the pride that comes with hard work. it's financial security. it represents what you will be able to do for your children.

and sadly right now, it's out of reach for far too many american families. there's a serious housing shortage, in many places, it's too difficult to build, and it's driving prices up. as president, i will work in partnership with industry to build the housing we need both to rent and to buy. we will take down barriers and cut red tape, including at the state and local levels. and by the end of my first term, we will end america's housing shortage by building 3 million new homes and rentals that are affordable for the middle class. and we will do that together. we will do that together.

and we will make sure those homes actually go to working and middle class americans. not just investors. because, you know, some corporate landlords, some of them buy dozens, if not hundreds of houses and apartments. then they turn them around and rent them out at extremely high prices. and it can make it impossible, then, for regular people to be able to buy or even rent a home. some corporate landlords colewd -- collude with each other, to set artificially high rental prices. often using algorithms and price fixing software to do it. it's anti-competitive, and it drives up costs. i will fight for a law that

cracks down on these practices, [ applause ] we also know that as the price of housing has gone up, the size of down payments have gone up as well. even if aspiring homeowners say for years, it often still is not enough. so in addition, while we work on the housing shortage, my administration will provide first time home buyers with $25,000 to help with the down payment on a new home. we can do this. we can do this. all to help more americans

experience the pride of home ownership and the financial security that it represents and brings. so that's my plan, but here's what donald trump would do. if his project 2025 agenda was put into effect, it will add around $1,200 a year to the typical american mortgage. he's got it backward. we should be doing everything we can to make it more affordable to buy a home, not less. finally, there's one more way i will help families deal with rising costs, and that's by letting you keep more of your hard-earned money. r hard-earned money. under my plan, more than 100

million americans will get a tax cut, and we will do this by restoring two tax cuts designed to help middle class and working americans. the earned income tax credit, and the child tax credit. edit through which millions of americans with children got to keep more of their hard-earned income. we know this works. and has a direct impact on so many issues including child poverty. we know it works. so as president, i'll not only restore that tax cut, but expanding. we will provide $6,000 in tax relief to families during the first year of a child's life. now, think what that means. t ths think what that means.

that is a vital, vital year of critical development of a child. and the costs can really add up. especially for young parents who need to buy diapers and clothes and a car seat, and so much else. we will do this while reducing the deficit. compare my plan with what donald trump intends to do. he plans to give billionaires massive tax cuts year after year. and he plans to cut corporate taxes by over a trillion dollars, even as they pull in record profits. and that's on top of the $2 trillion tax cut. he already signed into law when he was president. which, by the way, overwhelmingly went to the wealthiest americans and corporations and exploded the national deficit. you know, i think that if you

want to know who someone cares about, look who they fight for. look who they fight for. y fight. donald trump fights for billionaires and large corporations, we -- i will fight to give money back to working and middle class americans. so i'll end with this. two days ago, donald trump was here in north carolina. he said he was going to talk about the economy. i think you all watch, you know what i'm about to say. but he offered no serious plans to reduce costs for middle class families. no plans to expand access to housing or health care.

and that actually, i think for most of us, was not surprising. because we all know his plans. we know the project 2025 agenda. so there's a choice in this election. donald trump's plans to devastate the middle class, punish working people and make the cost of living go up for millions of americans, and on the other hand, when i'm elected president, what we'll do -- [ cheers and applause ] -- what we will do to bring down costs, increase the security and stability financially of your family and expand opportunity for working and middle class

americans. so now is the time to chart a new way forward. now is the time to chart a new way forward, to build. >> [ chanting new way forward ] to build an america where everyone's work is rewarded and talents are valued. where we work with labor and business to strengthen the american economy. and where everyone has the opportunity not just to get by, but to get ahead. so i thank you, north carolina. aware going to get this done. and with your help, god bless you and god bless the united states of america.

god bless you. you. >> a lot of populist policies there from vp kamala harris, laying out an economic agenda for her first 100 days in raleigh, north carolina. she said if you want to know who they care for, who do they fight for, and she's saying donald trump is going to fight for the corporations, for the rich. she's going to fight for the middle class. ron insana and doug hie are still with me. there are a lot of points that got us talking as she was speaking. i'll start with tariffs. she was talking about how donald trump's tariffs will essentially be a big tax on everybody who pays for anything in this country, but will especially hit hard the middle class and working class. a 20% tariff as i understand it on all countries. a 60% tariff on the country of china. what does that do?

>> it would cost americans $3,000 additional a year in tax. if you're talking about bringing prices down and fighting inflation, particularly when you're not talking about china, when you're talking about other countries around the world to provide food and other common consumer goods, it's not the best way in which to really address any issue, whether it's prices or even trade, and as we're going to hear, it doesn't also take into account the fact that something like that would launch a global trade war. >> that's if the products come. they stop coming here. they're on hold, and you get into more supply chain issues, which can put more pressure on inflation. i'm the harris campaign. i talk about this a lot. not only does it tell voters potentially more inflation is coming, if you vote for trump. also it drives a wedge with trump and free market conservatives. they do not like this. >> why does he keep talking

about it? he talked about it in 2016, talked about doing it while he was in office. he was saber rattling with china over tariffs. why does he keep doing this? >> he's an antiglobalist. he has been talking about how the u.s. is getting ripped off by other countries. not understanding that we export crude oil, food, agriculture is one of our biggest exports in surplus when we send it overseas. >> politically, there's no price to pay for being too tough on china for the republican or democrat. the realities for governing are different. >> is this just rhetoric? >> i think there's rhetoric with substance behind it, and that's where free market conservatives are concerned. >> he is hitting on a nerve with people upset about globalization. hitting on a nerve with people that are upset about nafta and jobs being sent overseas. american towns being hollowed out. that's what he was saying, what he was pitching when he talked about the big tariffs and making things in his words, america again. >> i don't want to take sides,

the c.h.i.p.s and science act, which encouraged manufacturing semiconductors, that were undertaken by joe biden in a bipartisan piece of legislation that passed several years ago. it's underway. several hundred billion dollars being sunk into the ground in the u.s. to make stuff here, and the same with the inflation reduction act, which was an infrastructure program, poorly named, roads bridges. >> there's an opinion piece in the "new york times" talking about going back and listening to the advice of a couple of democrats from 30 years ago when they were younger. i won't go into the substance of the piece. there was one line that i think is pertinent to what kamala harris just did. ignoring a problem on the electorate's mind, it only sends voters searching for a candidate who will listen. she's talking about cost of living. president biden did not want to talk about how the economy wasn't working for a lot of americans. he wanted to say, we've made it so much better. look at all the numbers. look at what i'm doing, while

americans are saying, i don't like that i go to the grocery store and paying $8 for berries or $5 for eggs. it's too expensive. and she's saying, yes, you're right, it's too expensive. >> when i heard the white house talk about inflation, which is a word families don't use, being transitory. it was jen psaki who said it from the podium. that's not how americans speak typically. and there's a difference between political speak and what families and single people are saying every day. things cost too much. they are saying that weird candidate whose name i'm going to forget, the rent is too damn high. >> i'm forgetting his name too. >> did she do a good job by going and telling people, yes, you're right? is she advocating for them, acknowledging the issue here? >> she drew a sharp contrast between herself and donald trump. on the inflation issue, she's recognizing that prices are higher than people want to pay.

what's unfortunate about the inflation we suffered in the post pandemic world is it's a very complex phenomenon that does not just have one cause. trying to explain that to people when they're feeling that pain becomes very difficult. where biden did not do that. vice president harris has articulated a simpler, more digestible way of treating this problem than i think the biden administration. >> it's still the biden/harris agenda and the administration and she and joe biden still get blamed for this. she's trying to get around that. >> she does have a chance to separate that. and in the polling, she has. she's come close to donald trump taking some online surveys on the economy. donald trump enjoyed a really big lead on the economy, and kamala harris has eaten into that. a mayoral candidate in new york city, he was the one who said the rent was too damn high. the other things that stood out to us were private equity, getting into hou