US presidential candidate Kamala Harris announced on Friday a comprehensive package of economic measures to reduce the cost of living.

“Look, the bills are adding up,” Harris said during her campaign in North Carolina, a key swing state.

“Grocery, rent, gas, school uniforms, prescription drugs. After all of that, many families don’t have much left at the end of the month.”

Harris has announced that he will impose “tough penalties” on companies caught price gouging in the grocery trade.

The proposal would require the Federal Trade Commission to penalize “large companies” it believes are responsible for price spikes, but it would first have to pass Congress.

Harris also proposed a $25,000 tax credit for some first-time home buyers and tax incentives for new home construction.

She also advocated tax relief for families, including a new child tax credit of up to $6,000 for families with newborns.

Trump and Harris argue about the economy

Harris’ proposals stand in stark contrast to the economic plan of Donald Trump, who sharply criticized Harris for what he called “Soviet-style communism.”

“Kamala Harris has been in office for three and a half years and all she has done is ruin the economy. Kamala can’t get rid of the stench of Bidenomics,” the Trump campaign team said.

However, inflation remains on a steady downward trend and the U.S. economy has avoided a recession thanks to strong job growth and record stock markets. Some effects of COVID-related economic upheaval remain, including higher food prices and high interest rates for homebuyers.

Trump has instead proposed across-the-board tariffs, which the former president claims would stimulate the economy. Harris argued in North Carolina on Friday that the opposite is true.

“He essentially wants to impose a national value-added tax on everyday products and basic necessities that we import from other countries,” Harris said. “This will have devastating consequences for Americans.”

“This will mean higher prices on virtually all everyday items: A Trump tax on gasoline. A Trump tax on groceries. A Trump tax on clothing. A Trump tax on over-the-counter drugs.”

zc/msh (AP, Reuters, AFP)