Harris Unveils Economic Plan Ahead of High-Stakes Debate

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WASHINGTON, D.C. – As the presidential race intensifies, Vice President Kamala Harris, now a presidential candidate, introduced her economic plan ahead of her upcoming debate with former president Donald Trump. The Harris-Walz agenda, which she developed alongside her running mate, Minnesota Governor Tim Walz, focuses on tax reform, small business growth, and healthcare affordability.

Tax Reforms for Working Families and High Earners

Central to the plan is tax relief aimed at working- and middle-class Americans. Harris proposes restoring the Child Tax Credit and the Earned Income Tax Credit while expanding the Child Tax Credit to $6,000 for families with newborns. Under the plan, no one earning less than $400,000 would see a tax increase.

The proposal also targets wealthier Americans by instituting a billionaire minimum tax and raising the tax rate on long-term capital gains for those earning over $1 million to 28%. Harris has also called for rolling back tax cuts enacted during the Trump administration.

Support for Homebuyers and Small Businesses in Harris-Walz Economic Plan

Harris’s platform includes measures to assist first-time homebuyers, offering up to $25,000 in down payment support. Additionally, she plans to help first-generation homebuyers with more targeted aid.

On small businesses, Harris aims to surpass the number of new business applications seen during the Trump presidency by setting a goal of 25 million new applications. Her plan includes expanding the startup tax deduction from $5,000 to $50,000, reducing regulatory hurdles, and boosting access to venture capital, particularly in rural areas. Small businesses would also see increased access to federal contracts.

Consumer Protections and Healthcare Reforms

A significant part of Harris’s plan involves consumer protections, including a proposed federal ban on corporate price gouging for essential items like groceries. She also aims to lower prescription drug costs by capping insulin prices and addressing pharmacy middlemen.

Building on healthcare initiatives from her time as Vice President, Harris seeks to make permanent tax credits that have lowered healthcare premiums for millions of Americans. She also plans to extend the $35 insulin cap and $2,000 out-of-pocket limit for seniors to all Americans while expanding Medicare’s ability to negotiate drug prices.

Workers’ Rights and Social Safety Nets

Harris has vowed to defend Social Security and Medicare from proposed changes by opponents. Her platform also includes raising the federal minimum wage, ending sub-minimum wages for tipped workers and those with disabilities, and establishing paid family and medical leave. She also supports eliminating taxes on tips for service workers.

Harris is committed to signing the PRO Act, a bill designed to strengthen workers’ rights to organize, and the Public Service Freedom to Negotiate Act, which would allow public sector workers to form unions more easily.

Climate and Energy Initiatives in Economic Plan

As Vice President, Harris cast a decisive vote for the Inflation Reduction Act, which marked a major investment in clean energy. Her platform builds on this, with plans to lower energy costs for households, create clean energy jobs, and secure energy independence while boosting domestic energy production.

Kamala Harris plans to make her economic agenda a central focus in the upcoming debate, aiming to clearly distinguish her policies from those of former President Donald Trump.