Harris’ Bold Promises: Lower Costs, Fairer Taxes, and More Homes

Vice President Kamala Harris, now running for president, has unveiled a set of bold promises focused on the economy, taxes, housing, and consumer debt.

Economy: Harris is pushing for what she calls an “opportunity economy” aimed at strengthening the middle class. She plans to cut everyday costs, starting with food prices, by implementing the first-ever federal ban on price gouging for groceries. Additionally, she wants to expand tax credits for middle- and lower-income families, including boosting the child tax credit to $6,000 for families with newborns.

Taxes: To generate revenue, Harris plans to raise the corporate tax rate from 21% to 28%, potentially bringing in around $1 trillion over the next decade. For high earners, she proposes increasing the capital gains tax from 20% to 28%. Furthermore, she supports a billionaire minimum tax, ensuring the wealthiest Americans pay at least 25% on all income, including unrealized gains. She also wants to quadruple the tax on stock buybacks to 4%.

Housing: Harris has made solving the housing shortage a top priority. She aims to build 3 million new homes and offers up to $25,000 in down-payment support for first-time homebuyers, along with a $10,000 tax credit. To reduce rent costs, she plans to block landlords from using algorithms to set rental prices and will limit large investors from buying single-family homes in bulk.

Consumer Debt: Harris is committed to tackling medical debt. She intends to partner with states to cancel medical debt and prevent Americans from falling behind on healthcare bills. She also supports student loan forgiveness, a priority that has already benefited nearly 950,000 public servants.

These plans demonstrate Harris’ focus on creating a more equitable economy, addressing critical issues such as rising costs, housing shortages, and debt burdens.

Subha KS- Staff Reporter