Niels Lesniewski | (TNS) CQ-Roll Name
Vice President Kamala Harris, the Democratic nominee for president, is about to unveil a set of financial coverage proposals Friday, highlighted by a brand new little one tax credit score.
The proposal, in keeping with Harris-Walz marketing campaign officers, would offer a $6,000 little one tax credit score inside a new child little one’s first yr. It additionally would deliver again a baby tax credit score from the 2021 reconciliation regulation and develop earned-income tax credit for a lot of taxpayers with out kids.
“It’ll present as much as $3,600 per little one tax credit score for middle-class and essentially the most hard-pressed working households with kids,” officers mentioned.
The tax portion of the proposal additionally consists of expended premium help tax credit. Harris is anticipated to element the financial messaging and coverage proposals as a part of a marketing campaign speech Friday afternoon in Raleigh, N.C.
She can also be anticipated to announce proposals on housing and reducing prices, which the marketing campaign previewed earlier this week.
The Harris proposal for help for first-time homebuyers goes past what President Joe Biden has proposed.
“The Biden-Harris administration initially proposed offering $25,000 in down fee help just for 400,000 first-generation house patrons — or homebuyers whose mother and father don’t personal a house — and a $10,000 tax credit score for first-time house patrons,” a marketing campaign reality sheet mentioned. “Vice President Harris’s plan will simplify and considerably develop that plan by offering on common $25,000 for all eligible first-time house patrons, whereas guaranteeing full participation by first-generation house patrons.”
The marketing campaign mentioned Harris additionally desires to “speed up” the method underneath which the Facilities for Medicare and Medicaid Providers are negotiating the price of prescribed drugs. CMS announced the value checklist for the primary 10 medication, with the lowered sticker costs on account of take impact on Jan. 1, 2026.
Biden and Harris appeared together Thursday in Prince George’s County, Md., to spotlight the information.
Friday’s announcement of key Harris agenda gadgets coincides with the second anniversary of the reconciliation regulation that supplied for the Medicare worth negotiations. The White Home highlighted the vice chairman’s function in breaking the tie vote within the Senate, which cleared the best way for the regulation’s enactment.
“Whereas Republicans in Congress attempt to repeal this regulation — which might improve prescription drug prices and take good-paying jobs away from their constituents, all to provide large tax cuts to huge companies — Vice President Harris and I’ll hold combating to maneuver our nation ahead by investing in America and giving households extra respiration room,” Biden mentioned in a press release Friday.
Republicans, too, have highlighted the function of the vice chairman in breaking ties in help of the Biden administration’s agenda (for which she holds the record). Although GOP lawmakers like Sen. Joni Enst, R-Iowa, have a far totally different tackle the implication of these votes.
“Kamala Harris forged the tie-breaking vote on a pair of trillion-dollar tax and spend payments that created a 20% inflation surge,” Ernst posted on X earlier this week.
The submit Harris to propose tax cuts for newborns, funds for first-time homebuyers appeared first on Roll Call.
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