• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
CommentaryPolitics

Rep. Trone: Harris’s economic vision isn’t unrealistic. I know because I’ve lived it

By
David Trone
David Trone
Down Arrow Button Icon
By
David Trone
David Trone
Down Arrow Button Icon
November 1, 2024, 12:35 PM ET
David Trone is the Democratic member of the U.S. House of Representatives from Maryland's 6th district and the founder and owner of Total Wine & More.
David Trone is the Democratic member of the U.S. House of Representatives from Maryland's 6th district and the founder and owner of Total Wine & More.
David Trone is the Democratic member of the U.S. House of Representatives from Maryland's 6th district and the founder and owner of Total Wine & More.Courtesy of David Trone

In recent weeks, Vice President Harris has traveled to high school gymnasiums and packed arenas to outline her economic vision for America. While the Biden-Harris administration has made historic investments in clean energy jobs and cutting-edge manufacturing, it is clear to me that Harris’ most recent proposals share the fundamentals of America’s most foundational economic achievements, from the New Deal to the G.I. Bill. In the final stretch of her campaign, Kamala Harris is delivering a proven playbook to make our economy work for everyone. I know because I’ve lived it.

The son of a World War II combat veteran and a public school teacher, I grew up on a 200-acre chicken and hog farm in East Berlin, Pennsylvania. We were fortunate to never go hungry, but my parents always struggled to get by, let alone get ahead. For years, my father suffered from debilitating alcoholism, eventually losing our farm and home to bankruptcy. With four younger siblings, I decided to take out student loans and learn the skills I needed to support them.

One year later, while attending the Wharton School of Business, I started my own business: a beer warehouse on 29th Street in Harrisburg, Pennsylvania. As my brother and I constructed checkouts and coolers with cheap plywood and paint, we reaped the benefits of small business loans and tax credits—lifelines for first-time business owners like us.

In the years that followed, we were empowered by those tools to grow from one corner store to two, expand to another town then to another state, creating hundreds and later thousands of jobs in the process. But my story is not one in a million—it is one of the millions. According to the Small Business Administration, small businesses have created 66% of employment growth in the U.S. over the past 25 years and contribute nearly half of the GDP. By lowering the barrier to entry for small business loans, especially for historically underserved communities, and bolstering financial incentives for companies generating good-paying jobs, America’s Main Streets will thrive. We have history to prove it.

As our company grew over the years, so did our tax rate. But let me assure you: the corporate tax rate was never a factor in whether or not I built a new store or negotiated lower prices for my customers—and we always paid what we owed. Today, Trump’s tax cuts have permitted America’s richest corporations to pay less in federal taxes than our teachers and firefighters. According to a 2021 report by the Institute on Taxation and Economic Policy, at least 55 of the largest corporations in America paid no federal corporate income taxes despite enjoying substantial pretax profits in the United States.

Even worse, the vast majority of companies did not use these tax cuts to hire new employees but rather put the money toward stock buybacks for their shareholders and executives. This is a shame and has done nothing for American families but balloon the national debt and make it harder for low- and middle-income Americans to save for the future. Kamala Harris has pledged to raise the corporate tax rate to where it should be and close costly tax loopholes leveraged by the ultra-rich—allowing folks earning $400,000 or less to not pay a penny more in taxes but increasing our country’s tax revenues and ability to better invest in our communities.

This election, we have a real opportunity to chart a stronger course. We need a president who supports America’s bold entrepreneurs by expanding opportunities for those investing in themselves, their employees, and a brighter future for our economy. We need a president who recognizes that the power of the United States lies in its people: the same people who rise before dawn to build our roads, educate our children, and take our country to new heights. We need a president who forges a wider path toward the American Dream for all, not just the privileged few.

I believe in Kamala Harris because leaders like her once believed in a farmer’s son who had nothing but a good idea.

More must-read commentary published by Fortune:

  • Former Intel CEO Craig Barrett: Splitting up America’s leading chipmaker is a bad idea
  • We led some of America’s largest companies. Here’s why we are voting for Harris, not Trump
  • How the Democrat-leaning news media is unwittingly aiding Trump
  • As activist Starboard engages constructively, here’s a potent prescription for Pfizer’s future success under Dr. Bourla’s watch

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Author
By David Trone
See full bioRight Arrow Button Icon

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Commentary

The Strait of Hormuz crisis shows energy security is now a boardroom issue
Commentaryoil and gas
The Strait of Hormuz crisis shows energy security is now a boardroom issue
By Victor NianMay 10, 2026
18 minutes ago
trump
CommentaryWhite House
Trump thinks he’s flying to Beijing with leverage. China spent 6 years making sure he doesn’t have any
By Steve H. HankeMay 10, 2026
11 hours ago
joaquin
Commentary250 Years of Innovation
Johnson & Johnson CEO: America’s innovation advantage starts with health 
By Joaquin DuatoMay 9, 2026
1 day ago
reed
CommentaryRetirement
Tim Cook and Reed Hastings just showed every CEO how to leave gracefully
By Paul HardartMay 9, 2026
2 days ago
golf
Commentarybooks
How playing golf alone can make you better at your job
By Gary BelskyMay 8, 2026
2 days ago
naomi
Commentarymental health
Naomi Osaka: the things I didn’t do to succeed
By Naomi OsakaMay 8, 2026
2 days ago

Most Popular

'Employers are increasingly turning to degree and GPA' in hiring: Recruiters retreat from ‘talent is everywhere,’ double down on top colleges
Future of Work
'Employers are increasingly turning to degree and GPA' in hiring: Recruiters retreat from ‘talent is everywhere,’ double down on top colleges
By Jake AngeloMay 9, 2026
1 day ago
‘This is the way’: Elon Musk endorses Warren Buffett’s famed 5-minute plan to fix the national debt
Economy
‘This is the way’: Elon Musk endorses Warren Buffett’s famed 5-minute plan to fix the national debt
By Jacqueline MunisMay 10, 2026
9 hours ago
Ted Cruz says the quiet part out loud: Trump accounts are Social Security personal accounts as GOP senator reveals 'dirty little secret'
Politics
Ted Cruz says the quiet part out loud: Trump accounts are Social Security personal accounts as GOP senator reveals 'dirty little secret'
By Jason MaMay 9, 2026
1 day ago
OpenAI CEO Sam Altman says Gen Z and millennials are using ChatGPT like a 'life advisor'—but college students might be one step ahead
Tech
OpenAI CEO Sam Altman says Gen Z and millennials are using ChatGPT like a 'life advisor'—but college students might be one step ahead
By Sydney LakeMay 10, 2026
9 hours ago
Red flag test: former CEO explains why he rejects job candidates who say they can start right away
Success
Red flag test: former CEO explains why he rejects job candidates who say they can start right away
By Orianna Rosa RoyleMay 9, 2026
1 day ago
Trump thinks he's flying to Beijing with leverage. China spent 6 years making sure he doesn't have any
Commentary
Trump thinks he's flying to Beijing with leverage. China spent 6 years making sure he doesn't have any
By Steve H. HankeMay 10, 2026
11 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.