Democratic presidential candidate Kamala Harris has unveiled an economic plan that includes tax cuts for parents of newborns, along with an ambitious proposal to build three million homes.
In a speech delivered Friday at a rally in Raleigh, North Carolina, Harris proposed reinstating the child tax credit of up to $3,600 per child, a measure initially introduced in 2021 during the Covid-19 pandemic but which expired at the end of the same year.
Harris also outlined a new tax credit that would provide up to $6,000 in total assistance to low- and middle-income families during the first year of a child’s life, according to American media.
Another key aspect of her plan involves building around three million new homes if elected President of the United States in the upcoming election on November 5.
While detailing her economic plan for the first time, Harris also vowed to penalize companies engaging in price gouging, in response to the current price hikes, which many observers blame on the administration’s economic policies.
However, both tax credit proposals would require congressional approval and could face opposition from Republicans who hold the majority.
As for Harris’s proposal to build three million homes, observers note that the current occupant of the White House had already announced plans to build two million homes, aiming to reduce purchase prices and mortgage interest rates.
Nonetheless, experts point out that U.S. presidents and vice presidents have limited ability to significantly lower housing prices, as real estate costs are influenced by interest rates and housing supply and demand.
Since President Biden withdrew from the presidential race, Harris’s team of economic advisers has been working on a plan that can both boost the economy and attract voters.
