RALEIGH, North Carolina, Aug 16 (Reuters) – Kamala Harris outlined proposals to cut taxes for most Americans, ban “price gouging” by grocers and build more affordable housing on Friday as part of the “opportunity economy” she plans to pursue if she wins the White House. In her first major economy-focused speech as the Democratic presidential nominee,
Harris pledged to introduce a new child tax credit of as much as $6,000 for families with infants, cut taxes for families with kids and lower prescription drug costs.
The vice president also called for the construction of 3 million new housing units over four years and a tax incentive for home builders who build homes for first-time buyers.
Harris told supporters at a rally in North Carolina, a state she hopes to win in the Nov. 5 election, that the U.S. economy was strong but prices were still too high. She said she would be laser-focused on the middle class as president.
“Together we will build what I call an opportunity economy,” she said. “Building up the middle class will be a defining goal of my presidency because I strongly believe when the middle class is strong, America is strong.” Her agenda may run into resistance from both corporations and Congress, which rejected similar proposals when they came from President Joe Biden.
Harris, who said she would reveal more details of her economic plans in the weeks to come, is aiming to draw a contrast with her opponent, Republican Donald Trump, on broad economic values, and specifically on tariffs and taxes.
In a call with reporters on Friday, Trump economic advisers Kevin Hassett and Stephen Moore argued that Harris’ proposals would boost inflation and damage the economy. A proposal to offer as much as $25,000 to first-time homeowners would do little more than jack up home prices, they said.
Some of her policies, including ones on housing and groceries, have come under attack as ill-considered and overly liberal populism by Republicans and some industry groups.
The nonpartisan Committee for a Responsible Federal Budget estimated that Harris’ economic plan would increase deficits by a net $1.7 trillion over a decade, a number that could grow to $2 trillion if temporary housing policies were made permanent.
Harris’ plan includes a federal ban on price gouging on food and groceries, which her campaign says aims to stop big corporations from unfairly exploiting consumers while generating excessive corporate profits.
As president, she would direct the Federal Trade Commission to impose “harsh penalties” on companies that break new limits on price gouging, campaign officials said. NN: Some crazy commie shit.
