Kamala Harris rolls out agenda: $6K tax credit for newborns, $25K subsidy for first-time homebuyers
4 months, 1 week ago

Kamala Harris rolls out agenda: $6K tax credit for newborns, $25K subsidy for first-time homebuyers

Salon  

Vice President Kamala Harris is set to unveil her populist economic agenda at a campaign event in North Carolina on Friday. This highly anticipated plan is Harris’ first-ever detailed vision of her economic policies and includes proposals that prioritize “lowering costs for American families,” going beyond President Joe Biden's campaign platform, The Washington Post reported. Harris’ proposal includes eliminating medical debt for millions of Americans; the “first-ever” ban on corporate price gouging for food and groceries; a cap on prescription drug costs; a child tax credit that provides $6,000 per child to families for the first year of a baby’s life; and a $25,000 subsidy for first-time home buyers — extending Biden’s subsidy for first-generation home buyers. We need your help to stay independent Subscribe today to support Salon's progressive journalism For example, senior vice president of the Committee for a Responsible Federal Budget Marc Goldwein claimed that Harris’ call for an additional $6,000 credit for newborns would most likely cost an additional $100 billion over a decade. “Vice President Harris faces a dilemma: On the one hand, America is on a fiscally unsustainable path, and if we’re going to embark on some of the more ambitious programs she’d like to pursue we need more revenue,” Daniel Hemel, a tax policy expert at the New York University School of Law, told the Post.

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