American Rescue Plan and Build Back Better: A New Economic Vision from Kamala Harris

Friday, 16 August 2024, 17:30

American Rescue Plan proposals from Vice President Kamala Harris aim to build back better by boosting the Child Tax Credit (CTC), banning price gouging, and expanding affordable housing. The plans offer substantial tax relief for families and target inflation through consumer protections. Harris is committed to ensuring working families benefit significantly if she wins the presidency.

American Rescue Plan and Build Back Better: A New Economic Vision from Kamala Harris

Boosting the Child Tax Credit

Harris’s plan calls for beefing up the Child Tax Credit (CTC) to provide families with newborn children with a $6,000 tax cut. This initiative emphasizes a stark contrast with Republicans on this critical issue.

Restoration of CTC

The proposal aims to restore the expansion of the CTC enacted as part of the American Rescue Plan, with a push for $3,600 per child tax credit for eligible families.

'Price Gouging' Ban

The plan includes a federal ban on price gouging on food and groceries, addressing inflation concerns and preventing corporations from unfairly exploiting consumers.

Expanding Affordable Housing

Construction of 3 million new housing units over the next four years.
$40 billion federal fund to facilitate construction.
Tax incentives for building starter homes.

Helping First-Time Homebuyers

Harris proposes providing $25,000 in down payment assistance for first-time home buyers, building on Biden’s Build Back Better agenda.

Limiting Taxes on Tips

Amidst her broader economic strategy, Harris supports eliminating taxes on tips for service workers, enhancing their financial security.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.