Kamala HarrisKamala Harris is pushing forward her economic plans as she eyes the Oval, focusing on the middle class, cutting down costs, and keeping big corporations in check.
Her proposals seem to be a mix of continuing Biden’s policies while adding fresh ideas to tackle the economic mess we’re in right now.
With inflation biting hard and housing costs skyrocketing, Kamala is setting the stage for what she thinks will help Americans breathe easier.
Let’s break it down.
Where Kamala wants to hit first
Kamala is serious about tackling inflation, and she’s not wasting any time. She has said that if she lands in the White House, dealing with rising prices is her first order of business.
The Democratic nominee is pointing fingers at corporate practices that are driving up costs for everyone. That’s why she’s planning a federal ban on price gouging for essential items like groceries.
This could put an end to what she sees as corporations taking advantage of regular folks. Plus, she’s got her eye on corporate mergers, making sure they don’t kill off competition and drive prices even higher.
But that’s not all. Kamala is doubling down on housing affordability too. Biden’s been trying to help first-time homebuyers with $25,000 in downpayment assistance, but Kamala wants to take it further.
She’s expanding that help to all first-time buyers, whether their parents owned homes or not. And she’s pushing for an even bigger child tax credit, bumping it up from $3,600 to $6,000 for newborns.
Tax reforms and corporate accountability
Taxes are another big area where Kamala is aiming to make changes. Kamala claims to think that service workers, who rely heavily on tips, shouldn’t have to worry about those tips being taxed like regular income.
This idea even has a surprising fan—Donald Trump has floated something similar. But while Trump wants to get rid of all taxes on tips, Kamala is focusing on income taxes specifically, leaving payroll taxes in place.
Healthcare costs are another area where Kamala wants to make a big impact. She’s planning to build on what Biden’s already done, like capping insulin prices and limiting out-of-pocket drug costs.
Kamala’s plan goes further, though, wanting to make these caps apply to everyone, not just seniors. She’s also talking about working with states to help folks with medical debt and to bring down health insurance premiums through the Affordable Care Act.
The Vice President has called for a $40 billion fund to get more homes built, doubling the amount Biden had proposed. Her healthcare plans are just as ambitious.
Kamala wants to make sure that no one in America is paying more than $35 a month for insulin, and she’s pushing for a $2,000 cap on out-of-pocket drug expenses each year.
