Vice President Harris on Friday unveiled several ambitious proposals as part of her economic plan, including policies like child tax credits and bans on price gouging.
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Here are five things to know about her economic agenda:
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Beefing up the Child Tax Credit: Harris’s plan calls for beefing up the Child Tax Credit (CTC) to provide a $6,000 tax cut to families with newborn children, among other changes, as Democrats have sought to drive a contrast with Republicans on the issue in recent weeks.
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“Price gouging” ban: The plan calls for what it described as the “first-ever federal ban on price gouging on food and groceries,” though it doesn’t offer much detail as to how the proposal would be carried out.
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Expanding affordable housing: Harris’s plan pushes for the construction of 3 million new housing units over the next four years, along with what it described as the “first-ever” tax incentive for building starter homes for first-time homebuyers.
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Helping first-time homebuyers: Another plan Harris proposed builds upon a previous proposal from the Biden administration that sought to provide first-generation homebuyers with $25,000 in down-payment assistance, along with a tax credit for first-time homebuyers.
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Lowering prescription drug costs: The plan also calls for a $35 cap for insulin prices and for out-of-pocket expenses for prescription drugs to be capped at $2,000 for “everyone, not just seniors,” in addition to other measures the campaign says are aimed at increasing competition in the health care industry.
The Hill’s Aris Folley has more here.
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Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.
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