1 big thing — 2024 shocker: Rare agreement
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A populist bidding war has erupted on the 2024 campaign trail, producing an unusual convergence of policy proposals between Vice President Harris and former President Trump, Axios' Zachary Basu writes.
- Why it matters: In an election both sides are treating as existential, ruthless politics are the name of the game. In some cases, that means skimping on details or abandoning sound economics.
Zoom in: In her first major policy address, Harris unveiled an economic agenda that includes a $6,000 child tax credit for families during the first year of a newborn's life.
- Within hours, a Trump campaign official told Semafor that Trump would "consider a significant expansion of the child tax credit," citing Sen. JD Vance's (R-Ohio) recent advocacy for a $5,000 credit.
- Restoring the pandemic era's enhanced child tax credit has long been a priority for Democrats. But Vance's proposal suddenly has some Trump allies claiming policy theft.
🖼️ The big picture: Harris, whose 28-day-old campaign is playing catch-up on the economy, has been accused of flip-flopping on past positions, distancing herself from President Biden and — in some cases — outright pandering.
- But some elements of her agenda simply reflect the realignment of partisan politics — and an American electorate that has found common ground on some big issues:
1. Inflation: Harris is making a concerted effort to shake off Biden's economic baggage, beginning with a blunt acknowledgment yesterday that costs have surged for food, gas and housing.
- "We couldn't have said it better ourselves," Trump campaign tweeted alongside a supercut of Harris rattling off the various ways high prices are affecting American families.
2. Border security: Keenly aware of Trump's polling advantage on immigration, Harris released an ad last week vowing to "hire thousands more border agents and crack down on fentanyl and human trafficking."
- It's still a far cry from Trump's pledge to carry out mass deportations. But Democrats' positioning on the border has shifted radically over the last four years.
3. No tax on tips: The same day she was endorsed by Nevada's powerful Culinary Union, Harris promised to eliminate taxes on tips — enraging Trump, who had made a similar pledge two months earlier.
4. No fracking ban: Harris has maintained "strategic ambiguity" on hot-button energy issues, but no longer favors a ban on fracking on federal lands — a prerequisite to winning Pennsylvania, the most important swing state.
5. Deficits don't matter: Left unsaid in both Harris and Trump's economic plans is how they will pay for them — a signature characteristic of populism that reflects how both parties treat the deficit while in power.
