Vice President Kamala Harris has taken a strategic approach in unveiling her first economic policy pillar, aiming to address the high cost of living as a priority before introducing broader policies. This move is part of her campaign's strategy to connect with voters on a fundamental issue that affects many Americans.
The newly released platform focuses on expanding the child tax credit and earned income tax credit, along with addressing supply and demand challenges in the housing market. By doing so, Harris seeks to extend an olive branch to citizens who are feeling the strain of economic pressures.
According to advisers close to the Democratic presidential candidate, Harris is committed to following the evidence and meeting people where they are in order to build trust and openness for future policy initiatives. This approach underscores her belief that addressing immediate concerns is crucial for laying the groundwork for broader economic plans.
Looking ahead, Harris's campaign is planning to introduce policies that promote innovation and economic growth. Additionally, she intends to provide a detailed plan on how to fund these proposals. Currently, Harris supports tax increases on higher-income individuals and corporations, aligning with President Joe Biden's budget blueprint released in March.
Analyses from organizations like the Tax Foundation and the Center for a Responsible Federal Budget estimate that the proposed tax hikes could generate significant revenue for the federal government over the next decade. The economic proposal put forth by Harris is projected to cost $1.7 trillion over the same period, indicating a substantial investment in addressing economic challenges.
