During a rally in Raleigh, NC, Vice President Kamala Harris unveiled the economic plan she will pursue if she wins in November. Some highlights from her remarks include: (1) advocating for the construction of 3 million new housing units over the next four years, along with a “first-ever” tax incentive for building homes for first-time homebuyers; (2) calling for an expansion of an existing tax credit for businesses that build affordable rental housing, as well as a $40 billion federal funds to help boost construction; (3) calling for a proposal to make some “federal lands eligible to be repurposed” for new and affordable housing developments; (4) providing first-generation homebuyers with $25,000 in down-payment assistance, along with a tax credit for first-time homebuyers; (5) pressing for passage of the Stop Predatory Investing Act, which she described as a means to fight rising home prices by targeting tax breaks for investors who purchase 50 or more single-family rentals, in addition to calling on Congress to enact the Preventing the Algorithmic Facilitation of Rental Housing Cartels Act, which would give the FTC more power to crack down on rent price coordination among property managers and landlords; (6) expanding the Child Tax Credit to provide a $6,000 tax cut to families with newborn children; (7) advocating for the “first-ever federal ban on price gouging on food and groceries” and calling for new authority for the Federal Trade Commission and state attorneys general “to investigate and impose strict new penalties on companies that break the rules”; and (8) ending taxes on tips for service and hospitality workers.
