Kamala Harris’ economic plans

The U.S. Vice President has announced a basket of economic proposals she hopes to adopt if she reaches the White House
 

INDUSTRIAL INCENTIVES

New tax credits to spur domestic manufacturing and invest in sectors such as bio-manufacturing, aerospace, AI and clean energy

Tax incentives to companies who expand “good union jobs” in steel, iron and other traditional industries


TAX ON WEALTHY

New 25% minimum tax on people with fortunes exceeding $100 million

Raise long-term capital gains tax rate to 28% for those earning more than $1 million annually

No tax hikes for households with annual income under $400,000


BUSINESS
   
Proposed increase in corporate tax rate to 28% from current 21%

Expand small business tax credit tenfold – from $5,000 to $50,000 – to encourage entrepreneurs


CHILD CARE
    
Increase in child tax credit from $2,000 to as much as $3,600 per child

$6,000 bonus onetime credit for new parents
   
Pledge for no working family to pay more than 7% of their household income on child care
      
   
AFFORDABLE HOUSING
     
Offer tax incentives to builders of homes for first-time buyers and affordable rental units
   
Provide $25,000 in downpayment assistance for first-time buyers
   
$40 billion “innovation fund” to encourage local governments to build more affordable homes
    
  
GROCERY PRICES
    
Ban on unfair price hikes on food and groceries to stop big corporations exploiting customers and generating excessive profits
  

Source: Reuters 
Picture: Getty Images 
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