Vice President Kamala Harris on Thursday said "inflation is still too high" although the United States' economic outlook "remains strong" after the release of the Commerce Department's gross domestic product report.
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July 28 (UPI) -- Vice President Kamala Harris said that "inflation is still too high" during a trip to New York on Thursday following the release of the Commerce Department's gross domestic product report.
Harris, speaking at an Economic Coalition Opportunity event in Brooklyn, said the United States' "economic outlook remains strong" but "there is still more work to be done" after the report showed a 0.9% decline in GDP, marking the second straight quarter the economy has contracted.
"Inflation is still too high, and lowering costs remain a top priority of our administration," she said.
Harris echoed comments that President Joe Biden made following the report, citing low unemployment, a "strong job market" and growth in consumer spending.
"Even as we face historic global challenges, we are on the right path and we will come through this transition stronger and more secure," Biden said.
Harris praised a deal between House Democratic leader Chuck Schumer, D-N.Y., and Joe Manchin, D-W.Va., Wednesday to introduce the Inflation Reduction Act of 2022, a domestic spending bill that includes energy programs and tax policy changes.
"When passed, this landmark legislation, we believe and are convinced, will lower health insurance costs by an average of $800 a year for 13 million Americans," Harris said. "It will also reduce the cost of prescription drugs, reduce the deficit, address the climate crisis and create jobs."
The vice president also lauded the House for passing a $280 billion bill to provide incentives for production of semiconductors and other investments in science and technology.
"This legislation and what it will produce will bring down the cost of cell phones and computers and cars. So it will have a profound impact. And we are excited that these pieces of legislation have now been passed through both the Senate and the House," said Harris.