Kamala Harris Unveils Bold Economic Proposals in First Major Speech

Kamala Harris, in her first major economy-focused speech, proposed tax cuts, affordable housing initiatives, and measures to combat price gouging. Addressing the middle class, she outlined plans such as a $6,000 child tax credit and lower prescription drug costs, aiming to contrast her economic vision with opponent Donald Trump.

In her initial major economy-centric address, Kamala Harris unveiled a series of proposals aimed at tax cuts, affordable housing, and combating price gouging, marking her first significant speech as the Democratic presidential nominee.

Speaking in Raleigh, North Carolina, the U.S. vice president emphasized her middle-class-focused agenda, which includes initiatives like a $6,000 child tax credit for families with infants, reduced taxes for families, and lowered prescription drug costs. Harris highlighted the U.S. economy's strength but pointed out ongoing high prices, pledging to prioritize the middle class from the White House.

Harris seeks to set herself apart from her Republican rival, Donald Trump, through her stance on tariffs and taxes. Her plans, closely aligned with those of President Joe Biden, introduce new homebuying incentives and tackle high prices. Although appealing to a wide working public, her policies face criticism from Republicans and industry groups as overly liberal populism.

Harris' campaign advocates for a federal ban on price gouging in groceries, targeting corporations for unfair consumer practices. Progressive economic ideas remain popular among voters but face legislative challenges, needing majority congressional support. Her proposals include 3 million new construction units, tax incentives for first-time homebuyers, rental assistance expansion, and a $25,000 credit for buyers.

Highlighting healthcare reforms, Harris aims to lower costs, cancel medical debt, and showcase the Biden-Harris administration's success in reducing top-selling prescription drug prices for Medicare. Maintaining Biden's promise, she assures no tax increases for those earning $400,000 or less, differentiating her tax stance from Trump's, who proposes permanent tax cuts and new broad tariffs on imports.

(With inputs from agencies.)