Vice President Kamala Harris Announces Her Cost Of Living Policy
As we head to the polls in November, it’s imperative to understand the policies that the candidate of your choosing has planned to implement if elected.
Vice President Kamala Harris, now the Democratic nominee for president, is proposing a comprehensive plan to provide tax relief for over 100 million Americans, including expanding the Child Tax Credit to offer a $6,000 tax cut to families with newborn children.
Harris is committed to ensuring that no one earning less than $400,000 a year will pay more in new taxes. She and her running mate, Tim Walz, aim to cut taxes for middle-class families with children by restoring the American Rescue Plan's expanded Child Tax Credit, which provides up to $3,600 per child for middle-class and struggling working families.
In addition to reinstating this essential tax relief for families with children, Harris’ plan introduces a historic expansion of the Child Tax Credit. This proposal would provide up to $6,000 in total tax relief for middle and low-income families during the first year of the child's life—a time when expenses are at their peak with the cost of cribs, diapers, car seats, and more. This support comes at a crucial moment when many parents may need to forgo income for parental leave.
Additionally, there is a plan to cut taxes for frontline workers by expanding the Earned Income Tax Credit to include individuals and couples in lower-income jobs who aren't raising a child at home, reducing their taxes by up to $1,500. It also calls for lowering taxes to help Americans afford health insurance through the Affordable Care Act Marketplace, saving an average of $700 on premiums, contributing to over $6,000 in total savings provided by the ACA—a benefit that Donald Trump seeks to repeal.
The more you know.
