Kamala Harris Lays Out “Opportunity Economy” Plan To Boost American Families And Businesses – Essence

When Vice President Kamala Harris took the stage at Carnegie Mellon University in Pittsburgh, she wasn’t just delivering a campaign speech—she was speaking directly to families struggling to make ends meet, to Black entrepreneurs hustling to turn ideas into reality, and to communities that have been left behind by traditional economic policies.

And she didn’t mince words when it came to contrasting her approach with that of former President Donald Trump, describing his policies as a strategy designed to “take America backward.” Harris laid out plans to create an economy that puts people over profits, lifting up the middle class while ensuring that every American, no matter their background, has a chance to thrive.

Harris’ message was clear: building a stronger, more equitable economy requires bold and intentional action. From lowering costs and investing in American innovation to preparing the nation to lead the industries of tomorrow, her three-pronged approach focuses on making the economy work for those who have long been left behind. But what does this plan really mean for everyday Americans—especially Black women and people of color, who often bear the brunt of economic inequities? 

Here’s a closer look at the vision Harris is laying out and what it could mean for you and your community.

Pillar 1: Lowering Costs for Working Families

One of the most resonant themes of Harris’ address was her commitment to easing the financial strain on middle-class families. With the cost of living rising and wages stagnating, many Americans are struggling to make ends meet—a reality that Harris acknowledged head-on. She promised to implement a middle-class tax cut that would benefit over 100 million Americans, particularly those who are often overlooked in traditional economic policies.

“Every day, millions of Americans are sitting around their own kitchen table and facing their own financial pressures because our economy has grown better and better for those at the very top and increasingly difficult for those trying to attain, build, and hold on to a middle-class life,” Harris said. Her plan includes targeted proposals to reduce the costs of essential services like childcare and eldercare, which have disproportionately impacted Black women, who are often the primary caregivers for both young children and aging parents.

Imagine being able to buy your first home without getting outbid by corporate landlords—Harris’ plan to build three million new homes could help make that a reality. She also proposes offering $25,000 in down payment assistance for first-time homebuyers, making homeownership—one of the main pathways to building intergenerational wealth—more accessible for families of color. For many Black families, who have been locked out of homeownership due to discriminatory practices, this kind of support could be transformative.

Harris’ vision goes beyond addressing everyday expenses—she’s also tackling price gouging by proposing a federal ban on corporate price manipulation and capping the cost of prescription drugs. In a time when the cost of medication is forcing many families to choose between their health and other basic needs, Harris’ plan promises to put an end to this unfair practice and ease the burden on working families.

Pillar 2: Investing in American Innovation and Small Businesses

Small businesses have always been the backbone of the American economy, and for communities of color, entrepreneurship is often a path toward independence and financial stability. Yet, these businesses face countless barriers, from access to capital to burdensome regulations. Understanding these challenges, Harris put forth a plan to invest in innovation and make it easier for people—especially those from underrepresented groups—to start and grow businesses.

“Small businesses strengthen our middle class,” Harris declared, announcing a significant change to the current tax code. Her proposal would raise the tax deduction for start-up costs from $5,000 to $50,000, offering a substantial boost to new entrepreneurs looking to get their ideas off the ground. This policy isn’t just about helping businesses start up—it’s about leveling the playing field for those who have historically been denied the resources and support needed to succeed.

Harris set an ambitious goal of 25 million new small business applications by the end of her first term, demonstrating her belief that American entrepreneurship is essential to economic recovery and growth. By harnessing the power of American innovation and empowering aspiring founders from all backgrounds, Harris is betting that the U.S. can maintain its competitive edge in a rapidly changing global economy.

Pillar 3: Leading in the Industries of the Future

While lowering costs and supporting small businesses are critical, Harris’ third pillar—leading in the industries of the future—is perhaps the most forward-thinking part of her plan. From artificial intelligence and biomanufacturing to advanced nuclear technology, Harris laid out a vision for making the U.S. a global leader in cutting-edge industries.

“Think of Alexander Hamilton building the manufacturing capabilities of our new nation, Lincoln and the Transcontinental Railroad, Eisenhower and the Interstate Highway System, or Kennedy committing America to win the space race,” Harris said, reminding the audience that America’s greatest economic achievements have always been tied to bold investments in new technologies and infrastructure. Her plan to expand American industrial strength could translate to more jobs and economic opportunities, particularly in communities that have long been left out of high-growth sectors.

But Harris wasn’t just talking about creating jobs—she also emphasized the importance of reforming the construction and permitting processes that often hold back progress. “The Empire State Building was built in just one year. The Pentagon? 16 months. No one can tell me we can’t build in America,” she stated, calling for faster timelines and reduced red tape to accelerate America’s ability to build.

What This Means for Black Families and Entrepreneurs

While Harris’ economic plan is designed to benefit all Americans, its impact on communities of color—particularly Black women—could be profound. For many Black families, lowering the cost of homeownership, expanding small business support, and capping the cost of prescription drugs could make the difference between simply getting by and truly building wealth. Harris’ emphasis on entrepreneurship is also significant. Black women are the fastest-growing group of entrepreneurs in the U.S., yet they often receive less than 1% of venture capital funding. By raising the start-up deduction and creating more pathways to success, Harris is acknowledging their role in the American economy and backing it up with policy.

If successful, her Opportunity Economy would be a step toward closing the wealth gap and creating a more inclusive economic landscape where everyone has a chance to thrive—not just the wealthiest few.

Harris’ speech in Pittsburgh was more than a policy rollout—it was a statement of values. By focusing on economic opportunity for working families, small business owners, and future innovators, she’s positioning herself as a leader who understands that building a strong middle class is about creating pathways to opportunity for everyone. This plan ensures that every Black woman, entrepreneur, and family finally gets a fair shot at building wealth and stability. Because when we all rise, our communities thrive. And that’s the future Harris is fighting for.