Kamala Harris Unveils Economic Proposals to Ease Middle-Class Struggles

U.S. Vice President Kamala Harris has announced a range of economic proposals designed to lower living costs for middle and lower-class Americans while boosting the overall economy. These measures include tax hikes for the wealthy, increased corporate taxes, expanded child tax credits, affordable housing initiatives, and support for small businesses.

U.S. Vice President Kamala Harris has introduced a series of economic proposals aimed at alleviating the financial burdens faced by middle and lower-class Americans. Her framework promises not to raise taxes on households earning less than $400,000 annually while endorsing significant tax hikes on the wealthy and corporations.

Among her initiatives are a 25% minimum tax on fortunes exceeding $100 million and an increased long-term capital gains tax for those earning over $1 million annually. Harris also supports Biden's plan to raise the corporate tax rate to 28% from 21%, reversing part of a tax cut initiated by former President Trump.

In addition to tax reforms, Harris aims to permanently restore an enhanced Child Tax Credit, expand affordable housing through tax incentives, introduce a generous small business tax deduction, cap childcare costs, and enact measures to prevent price gouging on groceries. Each proposal seeks to address specific economic challenges while fostering growth and equity.

(With inputs from agencies.)