Associated Press
Vice President Kamala Harris is out with a string of new economic proposals focused on food prices, taxes, housing and medical costs that she says will empower the middle class.
The plans constitute the first major policy proposals that Harris has released in the nearly four weeks since President Joe Biden bowed out of the race and endorsed his vice president.
A look at what Harris is proposing:
Food prices
After years of polling showing that Americans are worried about inflation, Harris is aiming to contain prices where they have often been most conspicuously felt — at the grocery store. She’s promising to, during her first 100 days in office, send Congress proposed federal limits on price increases for food producers and grocers. Harris also is seeking new authority for the Federal Trade Commission and attorneys general in states across the country to enact steeper punishments for violators. She also wants to use government regulators to crack down on mergers and acquisitions among large food industry businesses that the vice president argues have contributed to higher prices.
Housing
Harris is calling for the construction of 3 million new housing units over four years, which she says will ease a “serious housing shortage in America.” She also plans to promote legislation creating a new series of tax incentives for builders who construct “starter” homes sold to first-time homebuyers.
She also wants a $40 billion innovation fund — doubling a similar pot of money created by the Biden administration — for businesses building affordable rental housing units. Harris also wants to speed up permitting and review processes to get housing stock to the market more quickly.
Taxes and medical costs
Harris wants to speed up a Biden administration effort that has allowed Medicare and other federal programs to negotiate with drugmakers to lower the cost of prescription medications, aiming to cut the price tags of some of the most expensive and most commonly used drugs by roughly 40% to 80% starting in 2026. She’s also promised to promote competition with steps to increase transparency within pharmaceutical company pricing practices.
Harris also pledged to work with state entities to cancel $7 billion of medical debt for up to 3 million qualifying Americans.
The vice president also proposed to make permanent a $3,600 per child tax credit approved through 2025 for eligible families, while offering a new $6,000 tax credit for those with newborn children. She says a Harris administration would work to expand the Earned Income Tax Credit to cut taxes for some frontline workers by up to $1,500 and reduce taxes on healthcare plans offered on the marketplace created by the Affordable Care Act.
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Republished with permission of the Associated Press.
14 comments
Shelly Justice
August 17, 2024 at 1:41 pm
In other words, she has no idea what to do, how to do it. Not the right person for the job. She did nothing as VP. Wake up America, this is our last opportunity to save our country.
MarvinM
August 17, 2024 at 2:33 pm
While this particular article didn’t give details, there is a more detailed plan to make these things happen. I can’t provide links without going into moderation, but surely you can figure it out if you actually want to.
The way I see it, Trump “has no idea what to do, how to do it.”
Plus, he denigrates American military, mocks the disabled, stole classified and unclassified documents and then tried to hide them, encouraged a mob to swarm the Capitol on Jan. 6th and then didn’t say anything for 3 hours to quell it, perpetrated fraud, so so much fraud, Trump University, escalating his real estate values to get better loan deals while at the same time devaluating his real estate holdings to get better tax advantages.
And you think voting for that con man, that fraud, that charlatan, will save our country?
By the way, where’s Melania?
C Lewandowski
August 17, 2024 at 4:59 pm
Hey Marvin,
Melania and Ivanka have both announced they are voting for Kamala Harris. It has been reported elsewhere that Donald has dressed the Mar A Largo dining room wall with three Big Macs this afternoon,
Sincerely,
Corey Lewandowski
Yrral
August 17, 2024 at 1:50 pm
Why are White people insecure of Black people,maybe because Black people have no fear of you, White people has been running America since it inception,and lots of White people have psychological regress to the point that support a clinical insane person like Trump,who look down them as being trash and still support him
Day 27
August 17, 2024 at 4:31 pm
I’m sure there are plenty of red, brown, black and every other color out there not interested in turning the USA into Venezuela, Russia, and Argentina. They are the smart ones. Kammy and her clueless followers not so much. Google Econ 101.
Yrral
August 17, 2024 at 2:04 pm
He has no use for the MAGA hordes but their votes,who cannot buy a membership at his golf course and eat at his restaurant,but are willing to give their last dollar to him,you do better by buying a lottery ticket ,you would at least have a better chance of winning than him
ScienceBLVR
August 17, 2024 at 2:54 pm
Kamala will bring it! And Bey say-
How we’re smart enough to make these millions
Strong enough to bear the children
Then get back to business
See, you better not play me..
My persuasion can build a nation…
Who run the world? Girls! Girls!
Who run the world? Girls!
Yrral
August 17, 2024 at 3:07 pm
That old Black MAGA,both him and Trump are insane in the Membrane, Trump double down on the crazies Google Mark Robinson Trump
Tom
August 17, 2024 at 3:25 pm
What I’ve seen looks a bit light on detail but if the trump corporate tax cuts aren’t extended in 2025, aside from not adding trillions of dollars to the national debt, that should leave some money for child tax credits and a few other initiatives.
Guess we’ll see what gets rolled out next week.
Michael S
August 17, 2024 at 3:34 pm
Some of what Harris proposes is, in fact, new policy and of course, no one knows what efficacy it will have on inflation or the average household’s benefit. However, the 3 main policies from Trump’s speeches the past week are, in fact, simply a continuation of what is already in place from his 2016 election….tariffs, drilling and tax cuts.
The problem with his 1st term tariffs is already known to be inflationary because the US buyer ended up paying it, not the foreign supplier…estimated at $250 billion by US Customs.
The problem with more US drilling is the US is already producing at record levels under Biden but it doesn’t offset the effect on prices from the Ukraine conflict nor OPEC’s price controls.
The problem with Trump’s 2017 tax cuts is that it has been shown that 50% of their benefit has gone to the top 5% of taxpayers.
The definition of stupidity is doing the same thing again and expecting different results.
Yrral
August 17, 2024 at 4:14 pm
Cutting bank fees,such mandatory minimum in account,lots of people think they are getting a privilege by being able to cash a check,when they do not have the minimum amount and are charged a fee, Google Bank Mandatory Minimum Fees
Day 27
August 17, 2024 at 4:26 pm
Google “where the hell has Kammy been for the last 1300 days’”. I mean remember when she was the tie. breaker in 2022 that put nearly 2 trillion into the economy. That’s where your inflation came from. That bill also included more than 87000 new IRS agents to come after taxes. Now Kammy is gonna copy Trump and not tax tips. Kammy and Joe brought us this inflation. One of these days she will have to defend those policies. Remember she said Bidenomics was working. She is now running away from it but Joe, KJP, Donna Rice and others aren’t going to let her completely off.
PeterH
August 17, 2024 at 4:32 pm
Kamala should review the past mistake of Richard Nixon and his failed “wage price freeze” policies. It’s fine to increase market competition but freezing prices eventually is counterproductive.
Secondly, a $6000. child cash back should be limited to families with annual EARNED INCOME less than say $200K
Third, any first time home buyer incentive should be placed in escrow and not be interpreted by banks as buyer income to be applied to credit worthiness. Banks need to evaluate buyer income!
Forth, Relief on “tip tax” is going to be difficult to regulate. Restaurant servers for example share tips with bartenders, bus staff and sometimes kitchen staff. The tip relief should be limited to hospitality employees, ride share drivers and a select group of employees. Let’s not, for example, create an environment where home buyers are “tipping” their buyers agent $25,000. in lieu of a buyers fee or worse, wealthy investors are “tipping” their investment counselors!
Kamala and her advisers are smart enough to see through potential risks and scammers. Catching them all will be left to the IRS.
Michael S
August 17, 2024 at 4:56 pm
A whole lot depends on whether that legislation is ultimately written up as a price-gouging law vs. a blanket price control law. Price-gouging is a case by case event, by supplier, by grocery store chain, by geographic location, etc. Nixon’s controls were blanket application. The country of Panama is a good example of when selectivity and continual adjustment can make price controls work. Panama has maintained it for 15 years or so through several elections.