As the economic policy positions of the Harris-Walz ticket and their Republican opponents, Donald Trump and JD Vance, begin to align, a key area of convergence is the Child Tax Credit.
JD Vance recently expressed his support for expanding the Child Tax Credit to $5,000 per child in an interview with CBS News. However, he acknowledged the challenges in garnering support for this proposal on Capitol Hill, as Senate Republicans had previously blocked an expansion of the credit.
On the other hand, Harris' camp maintains her backing for a larger child tax credit. Earlier this year, she had hinted at a potential return to the temporary amounts set under the American Rescue Plan, which were up to $3,600 per child under 6 and $3,000 for children aged 6 to 17. The specifics of Harris' final stance on the Child Tax Credit remain undisclosed at this time.
Sources close to Harris have indicated that while she plans to introduce new economic initiatives in her upcoming address, these proposals will complement rather than overhaul the existing policies of the Biden administration. Harris, known for her centrist views, is expected to balance initiatives aimed at reducing costs through government programs with potential tax cuts in other areas.
One insider mentioned that Harris aims to strike a balance between assisting individuals in building their lives and avoiding undue interference with those who are already financially stable, particularly wealthier individuals.
During a recent rally in Las Vegas, Harris proposed the elimination of tips on wages, a policy that had also been suggested by Trump during a previous rally in the same location. This marks another instance of both parties finding common ground on certain policy issues.
