Vice President Harris Unveils Economic Plan to Reduce Costs for American Families
by Chris Weems
Vice President Kamala Harris has outlined an ambitious agenda aimed at easing the
financial burdens on American families, particularly in the areas of housing, healthcare,
groceries, and taxes.
Her multifaceted economic plan, which she laid out in a speech Friday, Aug. 16,
includes measures to lower housing costs by expanding affordable housing,
implementing tax incentives for first-time homebuyers, and curbing corporate practices
that inflate rental prices. Additionally, Harris plans to reduce the cost of prescription
drugs, combat grocery price gouging, and expand tax credits for middle-class families,
providing substantial relief to millions.
Harris’s economic plan reflects her commitment to building a robust middle class and
ensuring that all Americans have the opportunity to succeed. By addressing key issues
such as housing affordability, healthcare costs, and grocery prices, her agenda aims to
provide tangible financial relief to millions of families. Through a combination of
innovative policies and targeted interventions, Harris seeks to create an economy that
works for everyone, not just the wealthy few.
“Costs are still too high. And on a deeper level, for too many people, no matter how
much they work, it feels so hard just to be able to get ahead,” Harris said. “As president,
I will be laser focused on creating opportunities for the middle class that advance their
economic security, stability, and dignity.”
In response to the rising grocery prices affecting families nationwide, Harris advocates
for the first federal ban on food price gouging. She plans to strengthen regulatory
oversight, giving the Federal Trade Commission (FTC) and state attorneys general new
powers to investigate and penalize companies that unfairly exploit consumers. Her
agenda also includes efforts to curb industry consolidation, which has contributed to
higher food prices, by supporting smaller businesses and preventing anti-competitive
mergers.
Recognizing the urgent need for affordable housing, Harris proposes the construction of
three million new housing units over the next four years. This effort aims to alleviate the
housing shortage, driving down costs for renters and homeowners alike. Her plan also
includes the introduction of the first-ever tax incentive for builders of starter homes, as
well as a historic expansion of tax incentives for businesses constructing affordable
rental housing. A $40 billion innovation fund will further support local governments and
developers in creating affordable housing solutions.
Building on her track record as California’s Attorney General, where she successfully
held Big Pharma accountable, Harris plans to expand healthcare cost reductions
achieved during the Biden administration. Her proposals include capping insulin costs at
$35 for all Americans, not just seniors, and accelerating Medicare’s ability to negotiate
lower drug prices. Moreover, she intends to work with states to cancel medical debt for millions and prevent future accumulation of such debt, ensuring that no one faces
financial ruin due to illness.
Harris proposes a significant expansion of the Child Tax Credit, offering up to $6,000 for
families with newborns during their first year. This plan builds on the American Rescue
Plan’s expanded tax credits, which provided crucial relief to families with children.
Additionally, Harris intends to cut taxes for frontline workers and those struggling to
afford health insurance, further easing the financial strain on middle-class Americans.
In contrast to past administrations, Harris’s plan emphasizes fairness, competition, and
fiscal responsibility, setting a new course for the nation’s economic future. Democrats
have staunchly defended Harris’s economic proposals as addressing many Americans’
key needs.
