Washington (PTI): Kamala Harris will be a "fantastic President of the United States," former president Barack Obama said on Friday, as he and his wife Michelle endorsed her and vowed to do "everything we can" to enable her to win the high-stakes elections against Donald Trump in November.

Harris, 59, launched her presidential campaign hours after President Joe Biden said he would be forgoing his bid for a second term.

The decision came after Biden faced weeks of mounting pressure to step aside following his startling debate performance against rival and former president Trump last month, which raised concerns about his fitness for a second term and ability to defeat his Republican opponent in November.

Obama, who didn’t immediately endorse Harris following President Biden’s announcement on Sunday, released a video to support the Vice President.

"Earlier this week, Michelle and I called our friend @KamalaHarris. We told her we think she’ll make a fantastic President of the United States, and that she has our full support. At this critical moment for our country, we’re going to do everything we can to make sure she wins in November. We hope you’ll join us," Obama said in a post on X.

“Michelle and I couldn’t be prouder to endorse you and to do everything we can to get you through this election and into the Oval Office,” the 62-year-old former president told Harris on a phone call joined by his wife.

Harris thanked the Obamas for their support and expressed gratitude for their decadeslong friendship.

"I’m looking forward to doing this with the two of you, Doug (Douglas Emhoff) and I both. And getting out there, being on the road,” Harris, 59, said.

“But most of all, I just want to tell you the words you have spoken and the friendship that you have given over all these years mean more than I can express, so thank you both. It means so much. And we’re gonna have some fun with this too, aren’t we?” she added.

Michelle, the former first lady, said she is proud of Harris and expects the upcoming election to be historic.

“I can’t have this phone call without saying to my girl, Kamala, I am proud of you. This is going to be historic,” she told Harris in the approximately one-minute video.

In a joint statement announcing the endorsement, the Obamas praised Harris.

“But Kamala has more than a resume. She has the vision, the character, and the strength that this critical moment demands. There is no doubt in our mind that Kamala Harris has exactly what it takes to win this election and deliver for the American people," the statement said.

“At a time when the stakes have never been higher, she gives us all reason to hope," it added.

With Obama's endorsement, Harris, who is of Indian and African origin, has secured support from all major Democrats and party leaders in Congress, including former House Speaker Nancy Pelosi, Senate Majority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries.

Obama, the first Black president, and Harris, who could become the first female president, have been in regular contact since Biden announced his decision to drop out, the US media reports citing sources familiar with the matter said, noting they have known each other for 20 years.

No other Democrat has announced their candidacy for the presidential nod. Harris has secured endorsements from more than 40 state delegations, surpassing the number of delegates she will need to win the nomination. If that support holds, Democrats will officially nominate her for president during a virtual roll call vote in August.

Under new rules adopted by the Democratic National Committee on Wednesday, the nominee will be selected as soon as August 1, and the candidate has until August 7 to select a running mate. The party will meet for its convention in Chicago starting August 19.

In an Oval Office address Wednesday, Biden acknowledged it was time to "pass the torch" to a new generation of leaders.

Harris, who was a senator from California before she was elected vice president, quickly hit the campaign trail with events in Wisconsin, Indiana and Texas. Her campaign said it raked in more than USD million between Sunday afternoon, when she officially joined the White House race, and Monday evening.

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Bengaluru, Sep 11: Karnataka Chief Minister Siddaramaiah on Wednesday said he has written to the Chief Ministers of eight states regarding the "unfair" devolution of taxes by the Union government, and has invited them to a conclave in Bengaluru to collectively deliberate on the issues of "fiscal federalism".

He said he has written to the Chief Ministers of Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra, Gujarat, Haryana, and Punjab.

"States with higher GSDP (Gross State Domestic Product) per capita, like Karnataka and others, are being penalised for their economic performance, receiving disproportionately lower tax allocations. This unjust approach undermines the spirit of cooperative federalism and threatens the financial autonomy of progressive states," he said in a post on 'X' with "#OurTaxOurRight" hashtag.

"I have invited them to a conclave in Bengaluru to collectively deliberate on the issues of fiscal federalism at a juncture when the Finance Commission needs to make a directional shift & create incentives for growth and better tax mobilisation," he said.

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Siddararamaiah has also posted the letter written to CMs of other states on 'X'.

"As you are aware the 16th Finance Commission has begun its deliberations. The previous Finance Commissions have laid excessive emphasis on equity at the cost of efficiency and performance. As a result, states with higher GSDP per capita and higher contribution to the gross tax revenues of the union are progressively receiving lower shares of the central fiscal transfers," he said.

Stating that during the visit of the 16th Finance Commission to the State of Karnataka, during 29-30, August 2024, he underscored the need to carefully examine the impact of high emphasis given to equity on resource devolution to well performing states, he said, "I have emphasised that the reduction in central financial transfers to well performing states is placing severe limitations on their ability to invest in physical and human infrastructure."

The taxpayers of states, which are net donors to the divisible pool, also expect a fair share of their taxes to come back to them, he said, adding that the Finance Commission therefore needs to carefully balance equity with efficiency and performance.

Pointing out that states with a strong contribution to the country's GDP and Gross Tax Revenue, help build the nation in more ways than one, Siddaramaiah said, therefore, there is an urgent need to balance equity with efficiency and performance for a stronger Union, both politically and economically.

"It is, therefore, important that states which are receiving smaller shares in horizontal devolution, compared to their contributions to the Gross Tax Revenues of the Union, need to articulate a coordinated set of proposals before the Commission," he said.

"It is my pleasure to invite you to a conclave in Bengaluru to discuss these issues further. I will send a separate invitation indicating the dates once we firm up the schedule," he added.

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