(Washington) Tackling the housing crisis and supporting families’ purchasing power through tax and regulatory measures: US Vice President Kamala Harris unveiled her economic program on Friday, immediately described as “communist” by her Republican rival for the White House, Donald Trump.
The 59-year-old Democrat, who took over after President Joe Biden stepped down, traveled to Raleigh, North Carolina, to present her plan in person, but her campaign team has already unveiled some key measures.
Among them: the construction of three million new homes to deal with the “shortage”, assistance for first-time buyers of up to $25,000 down on the purchase, and laws intended to discourage real estate speculation.
Kamala Harris also promises to help families with tax breaks, particularly through a new tax credit for those with newborns, worth up to $6,000.
The Democratic candidate also intends to attack companies that “inflate” prices unduly, particularly for food products.
The vice president also has plans for health care: she wants to extend to the entire population a system that caps the cost of insulin for seniors at $35 per month, and tackle the debt Americans have incurred for health care.
Where Joe Biden had bet everything on major investments and the mass creation of industrial jobs, Kamala Harris has opted for a more human-scale approach, based around a few proposals that she hopes will be concrete and eye-catching.
PHOTO BRENDAN SMIALOWSKI, AGENCE FRANCE-PRESSE
Joe Biden made his first appearance alongside Kamala Harris since announcing he would not seek reelection on August 15 in Largo, Maryland.
She knows how the persistently high cost of living has politically weighed down the 81-year-old Democrat’s tenure, despite robust growth, booming jobs and gradually declining inflation.
“Communism”
“Comrade Harris is all about communism!” reacted former President Donald Trump on Friday, who particularly attacked his rival’s stated desire to contain certain prices.
PHOTO JEENAH MOON, REUTERS
Donald Trump held a press conference at his golf club in Bedminster, New Jersey, on August 15.
The term obviously has a particularly strong pejorative connotation in the United States.
“There have been multiple attempts throughout history to cap prices and they have failed because they have always led to lines in front of stores, shortages and an explosion of inequality,” criticized the 78-year-old Republican billionaire.
Kamala Harris’ campaign team accuses the Republican candidate of preparing tax gifts for “her ultra-rich friends.”
The Democrat’s camp also argues that the increase in customs duties envisaged by Donald Trump would cause inflation to soar.
According to a poll released Friday by the University of Michigan, 41% of consumers believe the vice president is a better candidate for the economy, while 38% believe Donald Trump is the right choice in this area.
A setback for the Republican, a former businessman, who had always largely dominated Joe Biden in this type of opinion poll.
The Democrat had already provoked Donald Trump’s fury by recently proposing to eliminate taxes on tips received in the hotel and restaurant industry and other service industries. The Republican accused her of “plagiarizing” one of his ideas.
She also promised to increase the minimum wage if she wins on November 5.
Where Joe Biden had to struggle with an economy that was on the verge of overheating, with prices rising sharply, the vice president may have to arm herself against the opposite scenario: that of a cooling down too much.
On August 5, global markets sent a kind of warning, with a black stock market day, fueled by fears of a recession in the world’s leading power.