New York [US], August 17: Kamala Harris outlined proposals to cut taxes for most Americans, ban "price gouging" by grocers and build more affordable housing on Friday as part of the "opportunity economy" she plans to pursue if she wins the White House.
In her first major economy-focused speech as the Democratic presidential nominee, Harris pledged to introduce a new child tax credit of as much as $6,000 for families with infants, cut taxes for families with kids and lower prescription drug costs.
The vice president also called for the construction of 3 million new housing units over four years and a tax incentive for home builders who build homes for first-time buyers.
Harris told supporters at a rally in North Carolina, a state she hopes to win in the Nov. 5 election, that the U.S. economy was strong but prices were still too high. She said she would be laser-focused on the middle class as president.
Her agenda may run into resistance from both corporations and Congress, which rejected similar proposals when they came from President Joe Biden.
Harris, who said she would reveal more details of her economic plans in the weeks to come, is aiming to draw a contrast with her opponent, Republican Donald Trump, on broad economic values, and specifically on tariffs and taxes.
Republicans fault Biden and Harris for presiding over an economy in which prices have risen and blame their policies for driving inflation.
Harris' plans are meant to address that by appealing to a broad segment of the working public who often see Republicans as better economic stewards and are anxious over both higher costs and their economic prospects.
Some of her policies, including ones on housing and groceries, have come under attack as ill-considered and overly liberal populism by Republicans and some industry groups.
The nonpartisan Committee for a Responsible Federal Budget estimated that Harris' economic plan would increase deficits by a net $1.7 trillion over a decade, a number that could grow to $2 trillion if temporary housing policies were made permanent.
Source: Fijian Broadcasting Corporation