Vice President Kamala Harris is set to discuss her economic proposals as she prepares to debate former President Donald Trump, with a focus on creating an “opportunity economy” for the middle class. Her plans include lowering grocery and prescription drug prices, addressing the housing crisis, and providing assistance for first-time home buyers.
Harris aims to pass a national ban on “price gouging” for food, investigate price-fixing in the meat supply chain, and provide $25,000 in down payment assistance for home buyers. She also plans to create three million new housing units, offer tax credits for developers, and invest in an “innovation fund” to combat housing shortages.
In terms of rental costs, Harris wants to expand tax credits for affordable housing developers and stop predatory investors from raising rental prices. She also proposed a $6,000 tax credit for newborns and restoring a $3,600 tax credit for families with middle and lower-income levels.
Harris aims to expand the Earned Income Tax Credit, not raising taxes on households earning less than $400,000 annually. She supports taxing high earners and corporations. Harris also proposed eliminating taxes on tips for service workers, with some limitations to prevent abuse of the policy.
On healthcare, Harris plans to cap prescription drug prices, negotiate Medicare drug costs, cancel medical debt, and expand subsidies for Affordable Care Act plans. She has supported paid leave legislation and called for a minimum wage increase but has not specified the amount.
Harris’ economic agenda aligns closely with President Biden’s platform, with a focus on supporting the middle class and implementing aggressive policies. Her proposals contrast with former President Trump’s focus on tariffs, tax cuts, and deregulation. Despite some criticisms and lack of detailed proposals, Harris is gaining trust among voters in handling the economy.
