Vice President Kamala Harris on Friday (August 16) revealed a three-step plan to reduce costs for the American people, a core convergence of the economic message of the Harris campaign for the 2024 US presidential election.
Speaking at Wake Tech Community College in Raleigh, North Carolina, Harris promised to focus on building what she called an “opportunity economy” aimed at strengthening the middle class.
My plan to lower costs and expand opportunity for working and middle-class Americans. pic.twitter.com/MIW7Ujd9kS
— Kamala Harris (@KamalaHarris) August 16, 2024
To that end, Harris proposes a federal moratorium on opportunity pricing, tax cuts – including the Earned Income Tax Credit and Child Tax Credit – along with housing initiatives that prioritize building affordable homes for the middle class, while also providing a $25,000 subsidy for each new home for first-time home buyers.
As the price of housing has gone up, the size of down payments have gone up as well.
Even if aspiring homeowners save for years, it often still isn’t enough.
My administration will provide first-time homebuyers with $25,000 to help with the down payment on a new home.
— Kamala Harris (@KamalaHarris) August 16, 2024
This is Ms. Harris’s first major policy speech since the vice president officially became the Democratic Party’s 2024 presidential nominee.
“For most of my childhood, I grew up in a middle-class family,” Ms. Harris said.
I grew up in a middle-class household. For most of my childhood, we were renters.
When I’m elected President, I will make it a top priority to bring down costs, and increase economic security for all Americans.pic.twitter.com/r5PZq1LJEc
— Kamala Harris (@KamalaHarris) August 16, 2024
Echoing President Joe Biden, Ms. Harris emphasized that strengthening the middle class will be a cornerstone of her presidency. “I strongly believe that when the middle class is strong, America is strong,” Ms. Harris said.
Ms. Harris said that in the coming weeks, she will release further details on her plans to build an “opportunity economy.”
I’m building an economy where everyone can compete and have a real chance to succeed.
Where everyone, regardless of who they are or where they start, has an opportunity to build wealth for themselves and their children.
— Kamala Harris (@KamalaHarris) August 16, 2024
Although inflationary pressures have eased in recent months, Harris acknowledged that many Americans are still struggling with high costs.
“When I am elected president of the United States, I will prioritize reducing costs and increasing economic security for all Americans,” Ms. Harris said.
Ms Harris noted that despite improvements in supply chains since the pandemic, prices for items such as bread and minced beef remained high, while some companies were achieving record profits. .
While many businesses are operating within the law and contributing to the economy, there are also some that are not saving consumers, Ms. Harris added.
“As president, I will go after bad actors, and I will work to pass an unprecedented federal ban on opportunistic food price gouging,” Harris said.
“My plan will include new fines for companies that are opportunistic, exploit crises and break the rules,” Ms. Harris said, adding that her economic plan would support Support smaller food businesses to promote more competitiveness in the industry.
As President, I’ll work to pass the first-ever federal ban on price gouging on food.
My plan will include new penalties for companies that exploit crises and break the rules.
And we will support smaller food businesses that are trying to play by the rules and get ahead.
— Kamala Harris (@KamalaHarris) August 16, 2024
According to the Capitoneshirt