The current Vice President and presidential candidate, Kamala Harris, has presented her economic support proposals ahead of the upcoming U.S presidential elections, and they offer the possibility of a stimulus payment of $6,000. This proposal is part of her major proposed plan to render financial assistance to families and those living in poverty when she becomes the U.S president. If she becomes president, Harris has emphasized that financial help must be given to families facing hardships and mothers with newborns.
Expanding the child tax credit
One of Kamala Harris’ main proposals is an expansion of the Child Tax Credit (CTC), which has shown to have a positive impact on child poverty alleviation. During a visit in North Carolina, Harris declared that if she becomes president, she will offer $6,000 tax relief to families in the first year of their child’s life. She elaborated: “We will provide $6,000 in tax relief to families in the first year of a child’s life,” demonstrating that she intends to help alleviate the struggles faced by new parents when it comes to finances.
Moreover, this initiative builds on the successes of Joe Biden CTC enhancement which was part of the American Rescue Plan Act of 2021 as reported by Columbia University’s Center on Poverty and Social Policy. Expanded tax credits helped nearly 61 million children while also leading to a reduction in child poverty rates by up to 30%. Therefore, Harris indicates her commitment towards providing support particularly to American families with children through her plan.
Direct stimulus Payment
Moreover, Harris intends to offer up to $6,000 as a direct stimulus check targeted at families and individuals who require them most. Such an allocation mainly focuses on the lower-income groups. According to Harris this type of assistance would therefore change the lives of many Americans suffering from a lack of basic necessities because of inflation and rising cost of living
This method differs from the Republican candidate Donald Trump who has concentrated on cutting down on governmental spending as well as social support programs. On the other hand, she argues that direct payments or financial reliefs like these are vital for addressing economic disparities between Americans living below poverty line and those above it such as herself.
Affordable housing and economic support
In addition to direct stimulus checks, Kamala Harris has also promised to resolve the affordable housing crisis as she considers it one of the most pressing problems facing many Americans. To make more affordable housing available for people in need over the next four years, she intends to construct three million new housing units. This project is estimated to cost around $40 billion and would be a key element in Harris’s overall plan to boost the economy.
Another part of Harris’s economic plan is the repeal of Trump’s 2017 Tax Cuts and Jobs Act, which she argues disproportionately benefited wealthy Americans and large corporations. Instead, Harris proposes a monthly refundable tax credit of $500 for individuals earning less than $100,000 per year aiming at providing continual financial assistance to lower-income earners and middle-income earners.
Kamala Harris’s proposal for stimulus checks of up to $6,000 is just one component of her broader plan to provide economic relief to American families. In this way, she aims at transforming the American economy through enhancing child tax credits, housing affordability as well as abolishing tax policies that support the rich.
