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Kamala Harris introduced elements of her economic agenda on Friday, which include new tax relief for families and homebuyers, as well as measures to combat price gouging. These proposals aim to address the cost of living challenges faced during the Biden administration.
The Democratic presidential nominee outlined her plans in a speech in North Carolina, a key battleground state where her opponent, Republican candidate Donald Trump, recently discussed his own economic policies.
With just over 80 days left until the US presidential election in November, Trump and Harris are actively campaigning for votes. Trump has focused on tackling inflation and reducing costs, while Harris is emphasizing creating opportunities for middle-class Americans to enhance their economic stability and dignity.
Harris’s key proposals include a $6,000 tax credit for families with newborns, an expansion of the child tax credit to $3,600 per year, and up to $25,000 in down payment support for first-time homebuyers.
In addition to these measures, Harris aims to build 3 million housing units within four years to make housing more affordable. She also plans to address price gouging in the food and grocery industry and empower regulatory bodies to penalize non-compliant companies.
Both Harris and Trump have been engaging in a war of words over their economic policies, with Trump accusing Harris of being a “radical California liberal” and Harris highlighting her focus on supporting working and middle-class Americans.
Recent polls indicate that Harris is gaining traction on economic issues, with a slight edge over Trump in terms of public trust to handle the economy. The shift in sentiment has been evident, with Democrats and independents showing increased confidence following Harris’s nomination as the Democratic candidate.
Additional reporting by Peter Wells and Eva Xiao in New York