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let's bring in the deputy director brock cromartie and budget officer doug holtz-eakin for more on thise program, and thank you for joining us, let's start with you. the dow is down 3, the nasdaq down 3.5, back up about halfway down from the lows of yesterday, consumer spending was slowing, and income falling drive and the downturn as well, a lot of people are saying that the chickens that people had been experiencing due to high inflation and out-of-control prices are finally coming home to roost, what do you say? >> i disagree, it's important to take a step back and look at where we are on the economy has a hole, goldman sachs is projecting we will have 3% growth until the third quarter of this year. look, i think that the baseline projection of our session is about 25% over a year or two year. man, so that's not outside of normal expectations, the point as especially with the fed poised to cut in september by 50 or 75 basis points that will drive down costs for businesses who want to buy borrow, and cost of mortgages or succumb a small business loans and add some juice to the economy

american action forum president doug holtz-eakin is going to be joining us. york's hakeem jfrs.efie stay tuned, you're watching "squawk box" and this is cnbc. >>> vice president kamala harris wants to raise the u.s. corporate tax rate to 28% if she wins the presidency. this is harris' first major proposal to raise revenue and try to finance some of the spending that she wants to pursue if she wins the white house. joining us now, douglas holtz-eakin, president of the american action forum. and we have -- how are you, doug? it's good to see you. >> i'm good. >> we don't need to summarize the philosophical differences between the two parties, but they are significant and this is not surprising and the proponents of something like this, you know, i listen to what they say, and i guess they make some good points. what would you say? >> well, i have real reservations about this proposal. number one, let's look at the facts on the ground. prior to the 2017 act, the u.s. was losing the headquarters of about five american corporations every year. and there were profo