Over 400 economists and former White House advisors back Harris, caution against Trump's policy plan.

• A new letter signed by over 400 economists and former White House policy advisors supports Vice President Kamala Harris for president, while criticizing Donald Trump.
• In the upcoming November election, Democrats and Republicans are competing to present their candidates as the superior choice for the U.S. economy, with high living expenses being the top concern for voters, according to national polls.
• Harris' upcoming economy-focused speech will be aided by a letter containing new policy proposals.

An open letter signed by over 400 economists and former White House advisors endorsed Vice President Kamala Harris for president over former President Donald Trump on Tuesday.

As the November election approaches, Democrats and Republicans are competing to present their candidates as the superior choice for the U.S. economy, with high living expenses remaining a top concern for voters according to national polls.

"The election presents a clear choice: either inequity, economic injustice, and uncertainty with Donald Trump or prosperity, opportunity, and stability with Kamala Harris."

Many of the 405 signers are progressive economists who previously served in Democratic administrations, including those of President Joe Biden and former Presidents Barack Obama and Bill Clinton.

The group of endorsers includes Harvard economist Jason Furman, Evercore founder Roger Altman, former deputy treasury secretary under Clinton, Penny Pritzker, former commerce secretary under Obama, former Federal Reserve vice chair Alan Blinder, and former staff members from regulatory agencies such as the Federal Trade Commission and the Consumer Financial Protection Bureau. CNN was the first to report the endorsements.

Some on the list, including Biden's former National Economic Council Director Brian Deese, have already been advising the Harris campaign privately.

Several signers held positions under Republican administrations. Sean O'Keefe served as deputy director of the Office of Management and Budget in the White House of former President George W. Bush. Phillip Braun was a member of former President Ronald Reagan's Council of Economic Advisers.

Harris could use the letter as a talking point in her upcoming economy-focused speech on Wednesday, where she plans to reveal new policy proposals.

Some of the signers, including Furman, have previously criticized some of Harris' proposals, such as her plan to impose a federal ban on "price gouging" in the food and grocery sectors.

"In an August interview on CNBC's "Squawk Box," Furman stated that he did not like the proposal regarding price gouging."

He is among the economists who disagree with many of Trump's economic plans, such as imposing high tariffs on all imports, reducing corporate taxes significantly, and allowing the president to influence Federal Reserve decisions on interest rates.

A group of mostly progressive and center-left economists had already opposed Trump's plans and endorsed the Democratic ticket before Biden dropped out and endorsed Harris.

On June 25, two days before the presidential debate, sixteen Nobel Prize-winning economists endorsed Biden's candidacy.