Senator Ted Cruz (R-TX) criticized Vice President Kamala Harris’ new economic plan, likening it to failed “Soviet-style” policies.
Speaking on his “Verdict” podcast with co-host Ben Ferguson, Cruz warned against Harris’ price control measures.
“Queen Kamala, the federal government czar, is going to set prices, well, not on anything that matters, just food, just groceries, just what you feed your children and your family,” he began.
“That the federal government is now going to be in the business that the Soviet Union, their government, was in for a long time, deciding the prices of goods the people need and want.”
Cruz noted that the “only problem” with the proposal is that history has already proven that it will be “absolutely disastrous.”
At a rally in North Carolina on Friday, Harris announced her economic plan, which includes child and homeowner tax credits, along with federal ban on grocery price gouging.
Kamala Harris's war on energy is a major driver of inflation. By driving up the cost of energy, the price of food has skyrocketed.
Instead of fixing the inflation that she caused, Kamala Harris's proposed solution is Soviet-style price controls on food.https://t.co/ZyQmvDWgPc pic.twitter.com/vL5phatG28
— Ted Cruz (@tedcruz) August 16, 2024
Cruz pointed out that inflation has surged under the Biden-Harris administration due to excessive spending and expansion of the money supply.
“There are a lot more dollars [and] if there are a lot more dollars, the price of everything goes up,” he stated.
“But secondly, there’s a second component of inflation, which is for four years, Kamala Harris and Joe Biden have waged a war on energy, and in particular, oil and gas.”
Cruz detailed how the administration’s stance on oil and gas has spiked costs across the board, particularly in food production.
“When it comes to food, a big driver of the cost of food is the cost of fertilizer,” he explained. “And fertilizer, natural gas is a major ingredient. Energy costs are a major ingredient in the cost of fertilizer.”
“Every one of those trucks run on diesel as well, and so by waging a war on oil and gas, Kamala Harris is directly responsible for causing a massive increase on the cost of food at the grocery store,” the Republican lawmaker added.
Cruz argued that Harris now faces problems at the polls, because the policies touted by the Biden administration have negatively impacted millions of Americans who are gearing up to vote.
“Her solution is an absolute train wreck. It is a disaster. It would hurt the American people badly. But understand she doesn’t know this. Far too few Democrats in Washington even have a basic understanding of economics,” Cruz asserted.
The Trump campaign echoed similar sentiments, stating, “Her policies rival some of the most socialist and authoritarian models from world history.”
Senior Trump campaign adviser Brian Hughes added, “Instead of unleashing American energy and reducing the burden on our people, she would impose price controls that are something out of Venezuela or Cuba.”
Harris’ plan also seeks to expand the Child Tax Credit (CTC) from the 2021 American Rescue Plan, offering up to $3,600 per child tax credit and a $6,000 tax cut for families with newborns.
An analysis by the Committee for a Responsible Federal Budget (CRFB) estimated that Harris’ CTC expansion proposal could cost $1.2 trillion from 2026 to 2035.
“If you think things are expensive now, they will get 100 times WORSE if Kamala gets four years as President,” Trump posted on Truth Social on Friday.
“If Kamala is elected and implements her Communist Price Caps, there will be famine, starvation, and poverty, the likes of which we have never seen,” he added in a follow-up post.
Wouldn’t a tax credit for newborns reduce the number of babies massacred. Goes against their own agenda. Dead babies, live terrorists.