Harris has put out several fresh economic ideas. Here is a deeper look at their contents.
Take a peek at what Harris is recommending: Food costs
With polls throughout the years indicating that Americans are concerned about inflation, Harris is trying to keep costs in check where they are frequently most noticeable: the grocery store. She has pledged to submit Congress-suggested federal restrictions on price hikes for food producers and supermarkets during her first 100 days in office. Harris also wants to give the Federal Trade Commission and state attorneys general more power to penalize infringers with harsher penalties. Additionally, she wants to employ government authorities to stop huge food sector companies from merging or buying one other, which the vice president claims has led to increased pricing. residing
To alleviate the “serious housing shortage in America,” Harris is advocating for the building of three million new housing units over four years. She also intends to support legislation that would provide builders who create “starter” houses for first-time homeowners with a new set of tax breaks.
Additionally, she wants to double the amount of money established by the Biden administration by creating an innovation fund of $40 billion for companies that construct affordable rental homes. Harris also wants to expedite the review and permission procedures in order to increase the supply of dwellings on the market.
Harris adds that she may reduce rental costs by putting restrictions on investors who purchase properties in large quantities and by reducing the use of instruments for fixing prices, which she claims encourage cooperation among landlords in order to boost profits. She also wants to make a far wider range of first-time home buyers nationwide eligible for a Biden administration program that offers $25,000 in possible down payment aid to help certain renters purchase a house.
Additionally, the vice president supports the idea that certain federal land be repurposed to provide space for new affordable housing—a notion that Biden supported during his presidential campaign and that Trump has also shown support for. Taxes and healthcare expenses
Additionally, the vice president supports the idea that certain federal land be repurposed to provide space for new affordable housing—a notion that Biden supported during his presidential campaign and that Trump has also shown support for. Taxes and healthcare expenses
In an attempt to reduce the cost of prescription drugs by 40% to 80% starting in 2026, Harris wants to expedite a Biden administration initiative that has permitted Medicare and other federal programs to engage in price negotiations with drug manufacturers. She has further pledged to foster competition by taking action to make pharmaceutical companies’ pricing policies more transparent.
The vice president also suggested creating a new $6,000 tax credit for families with newborns and permanently extending the $3,600 per child tax credit, which has been authorized through 2025 for qualified households. According to her, a Harris administration would seek to lower taxes on healthcare plans sold via the Affordable Care Act’s marketplace and increase the Earned Income Tax Credit, which would allow certain frontline workers to get tax breaks of up to $1,500.
