(C) Common Dreams
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How Wall St. Is Subtly Shaping the Harris Economic Agenda [1]
['Andrew Duehren', 'Lauren Hirsch']
Date: 2024-10-14
When two of Vice President Kamala Harris’s closest advisers arrived in New York last month, they were seeking advice. The Democratic nominee was preparing to give her most far-reaching economic speech, and Tony West, Ms. Harris’s brother-in-law, and Brian Nelson, a longtime confidant, wanted to know how the city’s powerful financiers thought she should approach it.
Over two days, the pair held meetings across Wall Street, including at the offices of Lazard, an investment bank, and the elite law firm Paul, Weiss. Among the ideas the attendees pitched was to provide more lucrative tax breaks for companies that allowed their workers to become part owners, according to two people at the meetings. The campaign had already been discussing such an idea with an executive at KKR, the private equity firm.
A few days later, Ms. Harris endorsed the idea during her speech in Pittsburgh. “We will reform our tax laws to make it easier for businesses to let workers share in their company’s success,” she said.
The line, while just a piece of a much broader speech, was emblematic of Ms. Harris’s approach to economic policy since she took the helm of the Democratic Party in July. As part of a bid to cut into former President Donald J. Trump’s polling lead on the economy, her campaign has carefully courted business leaders, organizing a steady stream of meetings and calls in which corporate executives and donors offer their thoughts on tax policy, financial regulation and other issues.
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[1] Url:
https://www.nytimes.com/2024/10/14/business/harris-economic-plan-wall-street.html
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