Washington, DC, August 17 :
During her first big speech addressing the economy as the Democratic presidential contender, Kamala Harris laid out plans to reduce taxes for the majority of Americans, outlaw "price gouging" by supermarkets, and increase affordable housing on August 16. In Raleigh, North Carolina, the U.S. vice president met with constituents to lay out plans for her first 100 days as president. Among her goals: reducing the cost of prescription drugs, reducing taxes for families with children, and creating a new child tax credit of up to $6,000.
Harris addressed her state's supporters that even if the American economy was the world's strongest, prices were still too expensive. While in office, she promised to prioritize issues affecting middle-class Americans. She promised that expanding possibilities for middle-class people will be her top priority. "Together we will build what I call an opportunity economy."
According to her staff, Harris plans to use tariffs and taxes as a point of differentiation with Republican Donald Trump, who she will face in the November 5 election. Corporations and Congress may oppose her plan, just as they did with President Joe Biden's comparable proposals.
While Biden's economic policy is similar to Harris's, the former does include additional incentives for homebuying and measures to rein in inflated product costs. Democrats are targeting a large section of the working class that is worried about rising prices and their economic future, and that generally views Republicans as better custodians of the economy.
Her housing and grocery policies, among others, have been criticized by Republicans and certain business organizations for being excessively liberal and poorly thought out. To prevent large firms from unjustly taking advantage of customers while making excessive profits, Harris's campaign has called for a government prohibition on food and grocery price gouging.
Campaign aides indicated that Clinton will order the Federal Trade Commission to impose "harsh penalties" on companies that violate new regulations against price gouging if elected president.
Voters favor progressive economic policies, yet these policies have been difficult to enact. The majority vote in Congress is required for the majority of Trump's and Harris's economic agenda items. This year, the Senate failed to move a child tax credit measure that had previously passed the House.
She proposes a $25,000 credit for first-time homeowners, three million additional housing units, and a slew of tax breaks and other policies to spur the construction of new homes for this demographic. Among Harris's other goals are the elimination of Wall Street businesses' mass property purchases, the expansion of rental assistance, and the prohibition of rental price manipulation.
In addition to bringing attention to the fact that the Biden-Harris administration secured a 79% reduction in the pricing of ten of the most popular prescription medications utilized by Medicare, Harris is working to reduce healthcare expenses and eliminate medical debt.
Aiming to contrast Trump's tax policies—including the corporate tax rate cut to 21% from 35% and other tax cuts that are slated to expire next year—with Biden's pledge not to increase taxes on individuals with incomes of $400,000 or less, Harris is keeping her word. Harris is opposed to Trump's plans to impose fresh taxes on all imported goods and to make the tax cuts permanent.
