A considerable number of more than 400 economists and former government officials have endorsed Kamala Harris.
The widespread approval lands as Harris attempts to diminish ex-President Donald Trump's edge on economic matters, an essential subject that numerous Americans claim could sway their vote in this election.
The support for Harris predominantly originates from liberal economists and administration officials who served under Democrats, featuring prominent figures such as Biden advisor Brian Deese; Obama officials Jason Furman, Bill Daley, and Penny Pritzker; and Clinton-era policymakers Robert Reich and Alan Blinder, who also served as vice-chairman of the Federal Reserve.
The endorsement states, "The decision in this election is crystal clear: between failed trickle-down economic strategies that advantage the few and economic strategies that present a chance for all, a choice between inequality, economic unfairness, and unease with Donald Trump or prosperity, opportunity, and constancy with Kamala Harris, a choice between the past and the future."
The two contenders are scheduled to deliver contrasting economic speeches this week. Trump will speak on his tax plan on Tuesday in Georgia, a pivotal state he lost in 2020, while Harris will present new policies concerning the "opportunity economy" during a speech in Pennsylvania on Wednesday, another battleground state.
Only a minimal number of endorsers seem to have served under Republicans, such as Sean O’Keefe, the deputy director of the Office of Management and Budget and NASA administrator under George W. Bush.
Notable economists have endorsed Harris, such as University of Michigan economist Justin Wolfers and Claudia Goldin, who won the Nobel Prize last year for longitudinal research on women's labor participation and the evolving wage gap.
The endorsement asserts that with Harris in the White House, "workers, families, and businesses can be assured that they have a president who will relentlessly work to create a robust, growth-promoting economy for all Americans."
Prominent Democratic figures, including former Clinton Treasury secretaries Larry Summers and Robert Rubin, as well as business leaders such as Mark Cuban and James Murdoch, endorsed Harris earlier this month.
Trump has focused primarily on the economy, vowing to build upon his pre-Covid economic prosperity if he returns to the White House. Trump has gained support from powerful business figures, including billionaire hedge fund investor Bill Ackman, venture capitalist Peter Thiel, and Tesla CEO Elon Musk.
To address voters' dissatisfaction with living expenses, Trump has pledged to cut taxes again, reduce bureaucracy, "unleash energy dominance," and impose extensive tariffs.
However, economists have cautioned that Trump's tariffs and plans for mass deportations could cause price increases.
"Donald Trump's proposed policies risk rekindling inflation and threaten the United States' global standing and domestic economic stability," the endorsement document obtained by CNN states. "Nonpartisan researchers have predicted that if Donald Trump successfully executes his agenda, it will reduce GDP growth and increase the unemployment rate."
Harris has been attempting to garner business community support.
Last week, Harris engaged in a conversation with one of the most influential figures in corporate America: JPMorgan Chase CEO Jamie Dimon, according to a person familiar with the matter.
Harris invited Dimon to a lunch earlier in the year, and the JPMorgan boss described the vice president as reasonable and open to fostering collaboration between the government and the private sector, the source informed CNN.
The connections between Dimon and Harris were previously reported by The Wall Street Journal.
Despite polls indicating a close race between Trump and Harris, a straw poll held last week by Yale professor Jeffrey Sonnenfeld discovered that the majority of (80%) power players anticipated Harris would emerge victorious. However, only about one-third of those CEOs identified as Democrats.
The straw poll may not represent the views of all CEOs, but it does reveal how Sonnenfeld's influential figures are contemplating the contest.
In the economic sphere, Harris is trying to distance herself from Trump's economic policies, arguing that her strategies would benefit all Americans, not just the few. This is a point emphasized by economists like University of Michigan's Justin Wolfers and Nobel Prize winner Claudia Goldin, who have endorsed her.
In her efforts to garner business community support, Harris recently had a conversation with JPMorgan Chase CEO Jamie Dimon, who described her as reasonable and open to collaboration between the government and the private sector.
