Harris raised $82 million during DNC, $540 million since launch, campaign says
Vice President Kamala Harris raised $82 million the week of the Democratic National Convention, bringing her total haul since launching her candidacy last month to $540 million, her campaign said.
The sum is buttressed by nearly $40 million raked in during and after Harris delivered her acceptance speech at the convention on Thursday night, campaign chair Jen O’Malley Dillon said in a statement, which noted the campaign crossed the half-billion-dollar mark moments before she took the stage.
The hour after the vice president’s remarks was the campaign’s best fundraising hour, O’Malley Dillon said.
The total reflects what was raised between the campaign, the Democratic National Committee and their joint fundraising committees.
In addition to growing its financial war chest, a third of which was from new donors last week, the Harris campaign also saw its foot soldiers sign up for nearly 200,000 volunteer shifts during the convention—more than any other week, O’Malley Dillon said, with 90,000 shift sign-ups coming Thursday and Friday.
“We head into September with a virtual army of volunteers ready to do the hard work of talking to their neighbors, friends and colleagues,” O’Malley Dillon wrote in the memo. “Meanwhile, Donald Trump’s battleground infrastructure remains incredibly sparse.”
“The Convention was a galvanizing moment for the Harris-Walz coalition throughout the country, energizing and mobilizing volunteer and grassroots donors alike,” she later added, saying they will use the resources to reach voters “while Trump is focused on very little beyond online tantrums and attacking the voters critical to winning 270 electoral votes.”
(WASHINGTON) — President Joe Biden and Vice President Kamala Harris held their first joint event since Biden exited the 2024 race and endorsed her to take his place atop the Democratic ticket.
The two walked out together to cheers to deliver remarks on stage at Prince George’s County Community College in Maryland about the economy and what their administration’s done to alleviate costs for Americans.
That includes the administration’s announcement earlier Thursday that the Department of Health and Human Services reached an agreement on price negotiations for 10 commonly used drugs that they say will save Medicare enrollees $1.5 billion in out-of-pocket costs when the new prices go into effect in 2026.
“We know it is not just about health care, it is about your dignity,” Biden said. “It’s about peace of mind. It’s about security. It’s about taking care of your family. It’s about giving folks just a little bit more breathing room. That’s all. Look, I believe health care should be a right and not a privilege in America.”
Harris spoke first and took a moment to praise Biden for his work on the issue, as the crowd broke out into chants of “Thank you, Joe!”
“I could speak all afternoon about the person that I’m standing on the stage with,” she said. “Our extraordinary president, Joe Biden. And he’s going to speak in a minute, but there’s a lot of love in this room for our president. And I think it is for many, many reasons, including few leaders in our nation have done more on so many issues, including to expand access to affordable health care.”
When it was Biden’s turn, he returned the plaudits.
“Folks, I have an incredible partner,” he said. “The progress we have made. She’s going to make one hell of a president.”
The 2022 Inflation Reduction Act allows the government to directly broker with drug manufacturers for the first time in the history of the Medicare program. In addition to the 10 drugs negotiated for 2026, the government can select 15 more drugs for negotiation in 2027 and another 15 drugs for 2028 and up to 20 more drugs each year after.
Harris said she was “proud” to have casted the tie-breaking vote to get the law passed in the Senate.
“We believe deeply every senior in our nation should be able to live with security, stability, and dignity,” she said. “And so in the United States of America no senior should have to choose between either filling their prescription or paying their rent. That is the subject of today.”
While Harris is associating herself with Biden’s agenda to lower costs on Thursday, it comes one day before she is set to make campaign remarks in North Carolina about her own economic platform to deal with the rising cost of living, which will be her first major policy rollout since becoming the party’s nominee.
As Biden left the White House for Thursday’s event, he said he does not believe Harris will try to shift away from his economic policies when was asked by a reporter if he’d be bothered if she did so for political reasons.
“She’s not going to,” Biden responded.
Harris on Friday will propose a federal ban on corporate price-gouging on food and groceries, her campaign announced. She will also call for giving the Federal Trade Commission as well as state attorneys general the power to investigate and punish companies that violate the new rules.
“Vice President Harris and Governor Walz know that price fluctuations are normal in free markets,” the campaign said in a press release. “But there’s a big difference between fair pricing in competitive markets, and excessive prices unrelated to the costs of doing business. Americans can see that difference in their grocery bills.”
Recently, Harris has also called for eliminating a tax on tips for service workers — a plan former President Donald Trump had introduced weeks ago. Her campaign also said her economic agenda will feature items to lower health care and housing costs.
Trump, in his own remarks delivered Wednesday that were also intended to focus on the economy, slammed the Biden-Harris administration record and briefly outlined his proposal to eliminate the tax on tips and taxes on Social Security benefits for seniors.
Trump’s criticisms often included falsehoods about the state of the economy and his own record, as he hit Biden and Harris over inflation.
“With four more years of Harris, your finances will never recover, they’re never going to recover. Our country will never recover, frankly, more importantly. It will be unrecoverable,” he claimed. “Vote Trump, and your incomes will soar, your savings will grow, young people will be able to afford a home and we will bring back the American dream bigger, better and stronger than ever before.”
ABC News’ Fritz Farrow and Lalee Ibssa contributed to this report.
(WASHINGTON) — Vice President and Democratic presidential nominee Kamala Harris on Wednesday unveiled a vastly expanded $50,000 tax benefit for new small businesses and a lower long-term capital gains tax than that was proposed by President Joe Biden in his budget blueprint, one of her clearest breaks yet with Biden.
Speaking to a crowd of supporters in Portsmouth, New Hampshire, Harris said, “And while we ensure that the wealthy and big corporations pay their fair share, we will tax capital gains at a rate that rewards investment in America’s innovators, founders, and small businesses,” before proposing a 28% long-term capital gains tax on people making $1 million a year or more.
Biden previously called for a 39.6% tax rate on capital gains. It is unclear where Harris stands on the additional 5% tax. While Harris’ presidential rival former President Donald Trump has not explicitly outlined a position this cycle, in 2016 he supported capping capital gains taxes at 20%, and the Heritage Foundation’s Project 2025 calls for a 15% capital gains tax.
A source familiar with the plan told ABC News that Harris believes a more moderated approach toward capital gains taxes will balance with other measures she supports to crack down on billionaires and big corporations. Harris said on Wednesday that she supported a minimum tax rate on billionaires. The source said she also supports raising the corporate tax rate and quadrupling taxes on stock buybacks.
However, the move comes as Harris and Trump seek to sharpen their economic messages to voters before facing off in their first debate on ABC News in Philadelphia next week. Trump is scheduled to give his own economic policy address on Thursday.
Harris’ announcement is part of a broader effort to generate a record-breaking 25 million new small business applications in her first term if elected, and her tax plan would represent a tenfold expansion of a $5,000 deduction already available to entrepreneurs to help cover startup costs.
An official familiar with Harris’ plans said the $50,000 benefit would help offset the $40,000 it costs on average to start a small business. The terms of the proposal would also allow eligible enterprises operating at a loss to delay utilizing the benefit until they turn a profit.
Some profitable businesses could also defer the full benefit, opting to instead use it across multiple years by deducting only earnings from the first year of business and utilizing the remainder of the total $50,000 in future years, according to literature circulated to reporters from the Harris campaign.
Harris said her administration would also seek to develop a standard deduction for small businesses to reduce the burden and cost of filing taxes, and remove barriers around occupational licensing, which inhibits workers from working across state lines.
While the literature circulated to reporters did not estimate the program’s cost, Harris told the crowd that the the plan would provide access to venture capital, support “innovation hubs and business incubators,” and increase the number of federal contracts with small businesses.
Many aspects of Harris’ proposed tax program would likely require congressional approval. The current 2017 Tax Cuts and Jobs Act, signed into law by Trump, is set to expire next year.
Harris also said that her administration would provide low- and no-interest loans to already existing small businesses. The campaign’s literature detailed a fund that would enable community banks and Community Development Financial Institutions to cover interest costs as small businesses expand in historically underinvested regions.
“We will have a particular focus on small businesses in rural communities, like right here in New Hampshire,” she said.
Both Trump and Harris have repeatedly sought to strike populist economic tones in their messaging, promising to provide relief to middle-class earners and even finding agreement on a proposed phase-out of federal income taxes on tipped wages.
Under pressure to define aspects of her policy agenda, Harris unveiled a slew of additional economic priorities last month that included, among other policies, restoring the American Rescue Plan’s expanded Child Tax Credit, proposing $25,000 in down payment assistance to qualifying first-time home buyers, capping prescription drug prices and a federal ban on price gouging in the food sector.
Meanwhile, Trump has advocated for broader reforms to U.S. economic policy, which have included tax cuts for businesses and wealthy individuals alongside an across-the-board tariff hike on imports to the U.S., generally, with tax rates as high as 60% to 100% on Chinese goods.
(WASHINGTON) — Amid escalating rhetoric from former President Donald Trump threatening to prosecute his enemies should he win the 2024 election, Attorney General Merrick Garland will deliver remarks to the Justice Department workforce Thursday urging they continue to adhere to longstanding principles intended to protect DOJ from improper politicization.
“Our norms are a promise that we will fiercely protect the independence of this Department from political interference in our criminal investigations,” Garland will say, according to excerpts of his prepared remarks provided to reporters.
Garland will add, “Our norms are a promise that we will not allow this Department to be used as a political weapon. And our norms are a promise that we will not allow this nation to become a country where law enforcement is treated as an apparatus of politics.”
The remarks come as Garland has sought to refute allegations from Trump and his allies of weaponization of the department through its prosecution of individuals involved in the Jan. 6 attack on the U.S. Capitol, as well as Special Counsel Jack Smith’s dueling prosecutions of Trump himself for his alleged mishandling of classified documents and his efforts to overturn the 2020 election.
Those close to Garland have disputed those accusations as baseless — pointing in part to DOJ’s prosecution and conviction of Democrats like disgraced New Jersey Sen. Bob Menendez on corruption charges as well as the separate Special Counsel prosecutions of President Joe Biden’s son, Hunter Biden.
Trump and his allies, in turn, have ramped up in recent months their promises to use the Justice Department as a tool of retribution against his political enemies — with Trump in a Truth Social post over the weekend threatening “long term prison sentences” for “Lawyers, Political Operatives, Donors, Illegal Voters, & Corrupt Election Officials” he baselessly accused of being involved in “cheating” in the 2020 and 2024 elections.
According to the excerpts, Garland will forcefully rebuke what he describes as a “dangerous — and outrageous” spike in threats targeting DOJ employees under his tenure.
“Over the past three and a half years, there has been an escalation of attacks on the Justice Department’s career lawyers, agents, and other personnel that go far beyond public scrutiny, criticism, and legitimate and necessary oversight of our work,” Garland will say. “These attacks have come in the form of conspiracy theories, dangerous falsehoods, efforts to bully and intimidate career public servants by repeatedly and publicly singling them out, and threats of actual violence.”
Garland will use his remarks specifically to point to steps taken during his tenure he says have been aimed at isolating the department from allegations of politicization, such as re-implementing policies intended to limit contacts with the White House.
Those policies, however, were complicated by the Supreme Court’s July ruling that effectively granted Trump immunity in his federal election subversion case over his alleged efforts to use the Justice Department to overturn the election. The court’s conservative majority determined that Trump and other presidents should be shielded from any criminal liability for contacts with the DOJ, that they said clearly fall within the chief executive’s core powers.
As a result, Special Counsel Smith returned a superseding indictment two weeks ago against Trump that stripped out any mentions of the alleged DOJ plot.