The Midtown Times
Harris’ Economic Strategy Highlights Benefits for Americans, Funding Details to Follow
Vice President Kamala Harris recently outlined her economic strategy, emphasizing how her administration plans to alleviate financial pressures on Americans, particularly concerning rising costs in child care and housing. However, details on how the government will fund these initiatives, expected to amount to hundreds of billions of dollars, have yet to be disclosed.
Sources familiar with the situation have informed another news network, CNN, that additional details on funding will be revealed in the future. Harris’ team is preparing a series of announcements on economic policies, each focusing on distinct themes.
One upcoming announcement is expected to address strategies for fostering innovation and economic growth, emphasizing maintaining US competitiveness and supporting businesses of all sizes.
During a Friday speech in Raleigh, North Carolina, Harris mentioned an imminent announcement regarding the “opportunity economy.”
Voters are concerned about inflation and the cost of living, so Harris’ plan’s initial rollout will target these issues directly. One of the critical proposals includes reinstating the expanded child tax credit of $3,600 per child, which the Tax Foundation projected would cost $223 billion over the next decade when included in President Biden’s budget proposal.
The proposed funding for these expanded tax credits involves increasing tax rates on corporations and individuals earning over $400,000.
This report was initially initiated and reported by CNN’s Kayla Tausche.
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