(Adds sections on Wall Street, Pharma, additions to Climate and
Energy)
WASHINGTON, July 22 (Reuters) - U.S. Vice President
Kamala Harris is potentially poised to become the Democratic
presidential nominee in the November election. Here are her
views and actions related to some key business topics.
BIG TECH
As a candidate for California attorney general, Harris
reportedly assured potential donors that she was "a capitalist."
She has generally been seen as cozy with prominent tech
executives and investors, the local industry in her home Bay
Area. She attended the wedding of Sean Parker, an early Facebook
executive. Her brother-in-law, Tony West, is the chief legal
officer for Uber ( UBER ).
She also accepted donations from Reid Hoffman, a prominent
venture capitalist and co-founder of Linkedin, as well as
billionaire John Doerr and venture capitalist Ron Conway. Big
tech executives also supported her, including Sheryl Sandberg,
then chief operating officer of Facebook, and Marc Benioff, the
billionaire CEO of Salesforce ( CRM ).
TECH REGULATION
As California attorney general, Harris sued eBay ( EBAY ) in
2012, alleging anticompetitive hiring practices surrounding a
no-poaching agreement with Intuit that led to a nearly
$4 million settlement in 2014.
One of her signature issues was curtailing the distribution
of pornography on social media, particularly "revenge porn," a
practice involving the posting of explicit photos without the
subject's consent. She took credit for a pressure campaign that
led to Facebook, Alphabet's Google, Microsoft ( MSFT )
and others taking measures to remove certain explicit
images.
"I cannot emphasize enough how leaders in technology have
stepped up," said Harris at a news conference then. "I'm not
suggesting any of them were happy to get a call from the AG
saying, 'Come in, we want to talk with you.' But they all did.
They did."
CLIMATE AND ENERGY
Harris' climate and energy positions are similar to
President Joe Biden's. But throughout her career she has made
clear that clean energy and environmental justice are
priorities.
When Biden announced Harris as his running mate in the 2020
race, he emphasized her tough stance against big oil when she
served in key roles in California, noting lawsuits she had
launched both as San Francisco's district attorney from 2004 to
2011 and then as the state's attorney general until January
2017, when she became a U.S. senator. As California Attorney
General, Harris won multimillion-dollar settlements with oil
majors Chevron and BP over alleged pollution violations from
underground fuel storage tanks.
She is a proponent of the Biden administration's strategy to
expand offshore wind energy and other renewables with lease
auctions and subsidies, striking a contrast with Trump, a fossil
fuel booster who has criticized offshore wind and other clean
energy technologies.
Last year, Harris made her debut at international climate
negotiations, announcing a $3 billion commitment to the Green
Climate Fund and making her first major international speech
focused on climate.
As vice president, Harris has also been involved in
Environmental Protection Agency policy rollouts that tackled
long-standing environmental justice issues, such as a
multibillion-dollar program to replace lead pipes and lead paint
around the country.
WALL STREET
Harris was known to be tough on big banks as California
Attorney General. She walked away from talks in 2011 between
large banks and state attorneys general over a settlement that
would require lenders to help consumers hurt by home
foreclosures and predatory lending practices.
Banks later more than quadrupled the money promised to
help Californians reduce the amount they owed on their
mortgages.
Under Harris, California launched a criminal investigation
into Wells Fargo in 2016 in connection with allegations the bank
opened millions of unauthorized customer accounts and credit
cards.
Several major Wall Street names are reported to be
supportive of Harris. Semafor reported on Sunday that several
Wall Street donors said they were preparing to contribute to
Harris, saying those expected to contribute included Blair
Effron at Centerview, Jonathan Gray at Blackstone, Peter Orszag
and Ray McGuire at Lazard and Roger Altman at Evercore.
Centerview, Lazard, Evercore and Blackstone were not
immediately available for comment.
PHARMA
Harris has opposed health care industry consolidation over
concerns bigger companies would lead to higher prices for
consumers.
As California Attorney General, she successfully brought
several antitrust lawsuits against drugmakers, health insurers,
and hospital systems, including initiating work on a landmark
case against Northern California's 24-hospital Sutter Health
system that was eventually brought by her successor. She
launched similar investigations into other large operators in
the state. Focuses included costs of out-of-network care and
mergers at many levels of the system, such as doctor groups.
She won settlements from industry heavyweights including a
$23.5 million settlement with McKesson and $241 million from
Quest Diagnostics in a lawsuits alleging inflated drug prices
and illegal overcharges to California Medicaid system. A
long-time Affordable Care Act supporter, she also recently
pointed to caps on insulin prices as a sign of Biden-Harris
administration policy toward keeping healthcare affordable.
ARTIFICIAL INTELLIGENCE
As vice president, Harris has been warned against the
"existential" threat of AI and warned tech execs that they have
a "moral" obligation to guard against AI's possible dangers.
She backed an AI executive order from Biden that seeks
stronger protections for consumers, singling out AI-generated
scam calls and the impacts of unlabeled AI-generated content.