Kamala Harris Proposes New Economic Plan to Prevent Price Gouging

Vice President Kamala Harris announced late last week her new economic plan, ranging from tax cuts, housing incentives, and reducing price gouging on groceries.

First, as Vice President Kamala Harris continues her presidential endeavors before election season, she has proposed an economic plan to assist fellow Americans. After announcing Tim Walz would be her running mate, the team has traveled across several states to promote their ideals and converse with the people. Fast forward to late last week, she is promoting several new ideas to help reform the economy if elected president.

Second, Harris has curated three pillars to her economic plan, primarily focusing on working middle-class Americans. The first pillar would provide relief to any struggling families through tax credits. If elected, Harris wants to provide up to $6,000 to parents and families of newborns when expenses are the highest. In addition, she would also like to restore the expanded Child Tax Credit, by providing upwards of $3,600 per child.

“I think that if you want to know who someone cares about, look who they fight for,” Harris stated.

Next, the candidate wants to provide first-time homebuyers with a sense of relief and a cushion when purchasing their first home. With mortgage and interest rates increasing, Harris wants to eliminate stress for first-time homebuyers. With her plan, Harris would assist homebuyers with $25,000 to put towards their down payment on their dream home.

She would also block data firms from hiking up lease rates, as well as blocking Wall Street investors from purchasing homes in bulk to later sell at a premium value. Moreover, she calls for the United States to build 3 million housing units over the next four years, with new tax incentives for builders who will construct “starter homes.”

Third, Harris wants to strengthen penalties for price-gouging on gas, groceries, and other essentials. With corporate price-gouging on groceries reaching an all-time high, Harris wants to work with Congress to advance the first-ever federal ban. If approved, corporations would no longer have the power to set their own prices for goods being sold to the general public.

Furthermore, the ideal would include set, clear rules to ensure corporations will not “unfairly exploit consumers to run up excessive corporate profits,” according to the fact sheet. Any allegations surrounding corporate price-gouging would also be investigated by the Federal Trade Commission and state attorneys general.

Lastly, as Harris continues her campaigning journey before November, the stakes are high. While her pillars for financial success would still have to undergo congressional approval, Harris believes that an “opportunity economy” with basic financial security will help assist millions of lives in need.

For more information on Harris’ proposed economic plan and policies, click here.