Over 400 economists throw their weight behind Harris

More than 400 economists and former White House advisors have signed an open letter endorsing Vice President Kamala Harris for president.

The letter, released Tuesday, comes just before both candidates are set to announce major economic policies.

"The choice in this election is clear: between failed trickle-down economic policies that benefit the few and economic policies that provide opportunity for all," the letter states.

The economists praise Harris for her efforts as vice president to lower costs, cut taxes, and raise wages.

"With Kamala Harris in the White House, workers, families, and businesses can be confident that they have a president who will work relentlessly to build a strong, pro-growth economy for all Americans," the letter states.

The economists don't pull any punches when it comes to Trump's economic plans.

They warn his proposals could “risk reigniting inflation and threaten the United States' global standing and domestic economic stability.”

Coming on the eve of Harris's anticipated speech outlining her "opportunity economy," the letter expresses particular concern about Trump's proposed tariffs and mass deportation plans.

Since launching her campaign in July, Harris has proposed several economic measures.

These include a federal ban on price-gouging in the food industry, expanding Medicare's prescription drug cost cap, and reviving the expanded child tax credit that Republicans previously opposed.

Authors span the political spectrum, but lean progressive

While the list of signatories is mostly progressive, it does include a few former Republicans.

Jason Furman, who was a top economic advisor to President Obama, is listed, as is Sean O'Keefe, who held a high-ranking budget position under President George W. Bush.

Other notable signatories include Penny Pritzker, former commerce secretary under Obama, and former Federal Reserve vice chair Alan Blinder.

Interestingly, some of these economists haven't always agreed with Harris's ideas. "Did I like the proposal she had about price gouging? No," Furman said in an August interview on CNBC.

Everyday Americans don’t share the same opinions

Whether the opinion of economists will sway public opinion is still up in the air.

A recent Wall Street Journal poll found there is a significant disconnect between how economists view certain policies from Harris and Trump versus how everyday people view them.

For example, 72% of voters support Harris's proposal to penalize food companies that engage in price gouging, but only 13% of economists agree.

Meanwhile, 47% of voters back Trump's proposal to impose a tariff of up to 20% on all imported goods, while not a single economist surveyed supported this idea.

This disconnect puts Harris and Trump in a tough spot. They need to balance economic plans that appeal to voters with policies that make sense to experts.

This isn't the first time economists have weighed in on the 2024 election. On June 25th, sixteen Nobel Prize-winning economists endorsed Biden’s candidacy.

That's just two days before the pivotal debate that later led Biden to end his re-election bid and throw his support behind Harris.