Kamala Harris promises to tackle price gouging and reduce the cost of living in her economic plan

Kamala Harris promises to tackle price gouging and reduce the cost of living in her economic plan

Kamala Harris promises to tackle price gouging and reduce the cost of living in her economic planKamala Harris promises to tackle price gouging and reduce the cost of living in her economic planUS Vice President Kamala Harris unveiled economic policy proposals, including a federal ban on grocery price gouging and tax breaks for families, in her first major economy-related speech as a Democratic presidential candidate during a visit to North Carolina on Friday. Although her plans do not deviate far from those of the Biden administration, Harris shifted the focus from job creation and infrastructure to measures that would lower the cost of living for Americans.

Vice President Kamala Harris is promoting a broad range of economic policy proposals that include new tax cuts and cost-of-living cuts for Americans, seeking to address voters’ financial concerns that Republican Donald Trump is trying to pin on her.

Harris traveled to the swing state of North Carolina on Friday to outline her plans, which include a proposal for a nationwide ban on price gouging on food. She also proposes a $25,000 down payment for certain first-time home buyers and tax breaks for home construction, among other things.

Harris calls for tax relief for families and middle- and low-income people. She would increase the child tax credit to as much as $3,600 — and to $6,000 for children in their first year. Harris would expand the earned income tax credit to people in low-paying jobs without children, which the campaign estimates would lower their effective tax rate by $1,500. Harris also wants to reduce health insurance premiums through the Affordable Care Act. Overall, the plan represents a continuation of many of the Biden administration’s priorities, but with a significant shift in focus from job creation and infrastructure to issues more closely tied to lowering the cost of living — food prices, housing and tax relief for families. Many initiatives would require congressional approval, which is far from certain in the current political environment, and there were few details on how the ideas would be funded.

Some of Trump’s economic advisers opposed the proposal. Brian Hughes, a spokesman for the former president’s campaign, called the vice president’s plans “the most socialist and authoritarian model.” Kevin Hassett, former chairman of the Council of Economic Advisors during the Trump administration, called it “completely absurd” that the government would play a role in setting food prices, referring to Harris’ proposal to ban “corporate profiteering” in the food and grocery trade at the federal level.

Stephen Moore, who has advised Trump on economic issues, argued that inflation has risen “catastrophically” under the Biden administration and accused the Biden administration and Harris of “trying to blame Trump for many of the problems they created.”

Leave a Reply

Your email address will not be published. Required fields are marked *