Harris' Economic Plan Signals an 'Escalation'

Vice President Kamala Harris is set to make her most significant economic policy announcement yet, to include a proposed ban on price gouging in the food sector and a crackdown on corporations. Harris will unveil her economic plan Friday in Raleigh, North Carolina, and the proposals described or hinted at in advance of the announcement indicate "a sharp escalation in the economic populism" of President Biden, reports the Washington Post. Here's what to expect, according to CNN, NPR, and Reuters:

• "The first-ever federal ban on price gouging on food and groceries ... to make clear that big corporations can't unfairly exploit consumers to run up excessive corporate profits," the campaign says, per the Post.
• Tax breaks the campaign says will lead to 3 million new housing units over four years, moving beyond a Biden administration proposal to allow 2 million new and renovated homes.
• Limit tax breaks for corporate investors that buy up large numbers of single-family rental homes.
• A ban on rental price-fixing.
• $25,000 for more than 1 million first-time home buyers to help with the down payment, up from a $10,000 tax credit proposed under Biden.
• A $40 billion fund to help local governments finance innovative housing construction, up from a $20 billion proposal under Biden.
• End federal income taxes on tips, also backed by former President Trump.
• Expand the child tax credit to $6,000 for families with newborn children.
• A push to lower healthcare costs and cancel medical debt.

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