U.S. Vice President Kamala Harris vowed to build "an opportunity economy” as she unveiled an economic agenda seeking to tackle the burden of inflation with sweeping new subsidies and tax benefits for poor and middle class Americans.
The plan represented the first major policy rollout of Harris’ nascent campaign, and looked to attack one of her greatest liabilities — frustration voiced by voters over spiking post-pandemic prices.
The proposal includes aggressive — and costly — initiatives that would provide a $25,000 subsidy to first-time home buyers, significantly expand tax credits for parents, and a cap on out-of-pocket prescription drug prices. Harris is also proposing initiatives to prevent price gouging at the grocery store and reduce the cost of health insurance purchased on federal exchanges.
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