Vice President Kamala Harris is set to discuss her economic proposals during a debate with former President Donald Trump, focusing on her “opportunity economy” for the middle class. Her plans include lowering grocery and prescription drug prices, addressing the housing crisis, and supporting small businesses. Harris aims to ban price gouging on food, provide down payment assistance for first-time home buyers, and create new housing units.
She also plans to expand tax credits for housing developers, provide a $6,000 tax credit for newborns, restore a $3,600 tax credit for families, and increase the Earned Income Tax Credit for lower-income workers. Harris does not support raising taxes on households earning less than $400,000 annually but does support raising taxes for high earners and corporations. She has also endorsed eliminating taxes on tips for hospitality workers.
Harris proposed capping prescription drug prices, particularly insulin, and out-of-pocket expenses at $2,000 per year. She also plans to cancel Americans’ medical debt and expand subsidies for Affordable Care Act plans. While she has not released a specific paid leave proposal, she co-sponsored paid leave legislation in the past.
Harris is expected to be more aggressive in her policy approaches compared to Biden, with a focus on key issues like the child tax credit and housing crisis. However, her economic agenda has been criticized for lacking depth, as her campaign aims to be strategically vague to attract more support. Trump’s economic agenda, focused on tariffs, tax cuts, and energy production, differs from Harris’ proposals.
Recent polls show that Harris is gaining more trust from voters in handling the economy, with a slight lead over Trump. The economy is a crucial issue for voters in this election cycle, and Harris hopes to attract support amid low approval ratings for Biden’s economic policies. Her focus on the economy comes as inflation rates have fallen, marking a potential opportunity for her to gain more support.
Overall, Harris’ economic agenda aligns with Biden’s platform but with a stronger emphasis on certain issues. While her proposals have drawn some criticism for lack of detail, her focus on key economic issues like housing, healthcare, and taxes may appeal to voters looking for solutions to current economic challenges. The upcoming debate with Trump will provide a platform for Harris to further discuss and defend her economic proposals, highlighting the differences between her vision for the economy and Trump’s agenda.
