Speaking at a rally in Raleigh, North Carolina, on Friday, the candidate proposed reinstating the child tax credit of up to $3,600 per child, a measure that was put in place in 2021 in the context of the Covid-19 pandemic and which expired at the end of the same year.
Harris also discussed a new expansion of the tax credit that would provide up to $6,000 in assistance to middle- and low-income families during a child’s first year of life.
Another measure proposed by the Democratic candidate concerns the construction of some 3 million new homes if she were to be elected President of the United States following the elections on November 5.
Detailing for the first time her economic plan for her possible presidential term, the current American vice-president also pledged to penalize companies that practice abusive prices, in response to the current increase in prices, which many observers attribute to the economic policies of the US administration.
Note that both tax credit proposals would require congressional approval and could face opposition from Republicans, who hold the majority there.
Regarding Harris’ proposal to build 3 million homes, observers, quoted by the American press, note that the current White House occupant had already announced plans to build 2 million homes, in an attempt to reduce purchase prices and mortgage interest rates.
However, the ability of the president and vice president to significantly reduce real estate prices remains “limited,” these observers point out, explaining that real estate costs are influenced by interest rates and by the supply and demand for housing.
Since President Biden withdrew from the presidential race, Harris’ team of economic advisers has worked to craft an economic agenda that can both strengthen the economy and appeal to voters.
The effectiveness of the proposals put forward so far remains to be tested on the ground, while economists are asking themselves how the Democratic candidate intends to finance this economic program.
2024-08-17 11:21:06