WASHINGTON: Kamala Harris is laying out proposals to cut taxes for most Americans, ban "price gouging" by grocers and boost affordable housing during her first major economy-focused speech as the Democratic presidential candidate.
The U.S. vice president is traveling to Raleigh, North Carolina, to outline an agenda for her first 100 days in office, where she will call for expanding the child tax credit to $6,000 for families with newborn children, cut taxes for families with kids and lower prescription drug costs, Harris campaign officials said.
She aims to draw a contrast with her Nov. 5 election opponent, Republican Donald Trump, on tariffs and taxes, they said. Her agenda may run into resistance from both corporations and Congress, who rejected similar proposals when they came from President Joe Biden.
Harris' economic agenda broadly mirrors Biden's, but introduces some new homebuying incentives and attempts to control high prices. Democrats are hoping to appeal 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 the ones on housing and groceries, have come under attack as ill-considered and overly liberal populism by Republicans and some industry groups. The proposals are larger or more detailed versions of price gouging, housing plans and tax cuts already introduced by Biden.
Harris' plan will include "the first-ever federal ban on price gouging on food and groceries," which her campaign says aims to stop big corporations from unfairly exploiting consumers while generating excessive corporate profits.
She will direct the Federal Trade Commission to impose "harsh penalties" on firms that break new limits on price gouging, campaign officials said. She will also draw contrasts with Trump on tax policy and tariffs and maintain Biden's promise not to raise taxes on people who make $400,000 or less a year, her campaign said. Trump slashed the corporate tax rate to 21% from 35% and implemented other tax breaks that are set to expire next year.
Trump has promised to make the tax cuts permanent and suggested new across-the-board tariffs on imports, an idea Harris rejects. Trump's campaign on Wednesday tied Harris to Biden's economic record.
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