Elizabeth Frantz | Reuters Vice President Kamala Harris on Friday will unveil a new set of economic proposals that she would prioritize in her first 100 days in office.
Groceries and food In an effort to tackle the stubbornly high price of groceries, Harris will work with Congress to advance the first-ever federal ban on “corporate price-gouging” on food and groceries.
A Harris administration would also take an aggressive regulatory approach to proposed mergers and consolidation among the biggest food producers.
But the vice president has largely steered clear of policy specifics, choosing instead to draw contrasts with Trump.
Recent polls suggest the state that Trump won in both the 2016 and 2020 presidential elections is now within reach for Harris in 2024.
Reuters, Elizabeth Frantz.
At her 100-day mark in office, Vice President Kamala Harris is expected to present a fresh set of economic proposals on Friday. The policies are designed to expand access to affordable housing, reduce taxes for middle-class individuals, and lower the cost of groceries and prescription drugs.
After President Joe Biden withdrew from the race in late July, the Democratic nominee for president will make her first trip to the battleground state of North Carolina to deliver a focused policy speech that will propel her to the top of the ticket.
The Harris campaign released a fact sheet on the plans on Friday, stating, “These bold actions will address some of the sharpest pain points American families are confronting and bolster their financial security.”.
Provisions and groceries.
In an attempt to address the unabatedly high cost of groceries, Harris will collaborate with Congress to push for the first-ever federal prohibition on “corporate price-gouging” of food and merchandise.
In order to prevent companies from “unfairly exploiting consumers to run up excessive corporate profits” on staple foods, the fact sheet suggests that clear “rules of the road” be established.
Harris would provide state attorneys general and the Federal Trade Commission more authority to look into and punish alleged violations.
In addition, a Harris administration would aggressively enforce regulations regarding proposed consolidation and mergers among the largest food producers.
Rent and housing that are reasonably priced.
Harris’s proposal would assist renters with limited resources by preventing Wall Street investors from purchasing houses in bulk in order to resell them at a higher price and by preventing data firms from raising lease rates.
| Reuters | Ken Cedeno.
Additionally, Harris will demand the U. S. to build three million new homes in the ensuing four years. She will advocate for new tax breaks for builders who build “starter homes” in order to make that possible. “.
A lot depends on which party controls the House and Senate when it comes to changes to the tax code, which must be approved by Congress.
The Harris plan would “provide working families who have paid their rent on time for two years and are buying their first home up to $25,000 in down-payment assistance, with more generous support for first-generation homeowners,” according to the fact sheet, as the supply of entry-level homes increased.
health-related expenses.
Harris would like to see the historic $35 price cap on insulin for Medicare beneficiaries lifted so that it covers insulin for all Americans, not just those in their senior years.
Anadolu | Getty Images | Peter Zay.
Like her plans to reduce costs in the food industry, Harris’s approach to health care depends in part on stronger laws and stricter enforcement of antitrust laws.
According to the Harris campaign, the plan calls for “cracking down on pharmaceutical companies who block competition and abusive practices by pharmaceutical middlemen.”.
Tax reductions.
A long-standing objective of the Biden administration is restoring the increased child tax credits, which Harris will pursue if elected president, and which were first implemented during the Covid pandemic.
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Beyond this, she will suggest additional tax breaks for families with a newborn, up to a maximum of $6,000.
This is a “year when many family’s expenses are highest—with cribs, diapers, car seats, and more,” according to the Harris campaign. It further mentions that a lot of parents who don’t have access to paid time off are left with no choice but to choose between working long enough hours to support themselves and their child.
The consequences.
Harris has erased former President Donald Trump’s lead over Biden in polls after just three weeks on the campaign trail.
But the vice president has mostly avoided talking about specific policy details, preferring to highlight differences between himself and Trump.
She will get the chance to present a vision for the economy at the Tar Heel State address that both builds on and might diverge from certain aspects of the economic record of the Biden administration.
Harris and Biden made joint appearances in Maryland on Thursday to promote a deal with pharmaceutical companies to reduce the cost of the ten most expensive prescription medications covered by Medicare.
Frantz, Elizabeth | Reuters.
According to the government, when the historic negotiations formally take effect in 2026, they will save Medicare about $6 billion in net savings thanks to Biden’s signature spending bill, the Inflation Reduction Act.
Two days have passed since Trump’s own speech in North Carolina, which also focused on the economy, and the vice president’s speech.
Trump attacked Harris personally during his speech in Asheville, accusing her of being the cause of the high cost of goods, which Biden has dedicated a significant portion of his presidency to bringing down.
Current surveys indicate that Harris can win the state that Trump won in both the 2020 and 2016 presidential contests in 2024.
Harris was leading Trump in North Carolina by 1 percentage point, 48–47, according to a fresh round of battleground state poll results that the Cook Political Report released on Wednesday. However, this gap was still well within the survey’s margin of error.
