Vice President Kamala Harris has consistently championed economic relief efforts throughout her career.
If she wins the 2024 presidential election, she’s expected to continue this trend by advocating for financial assistance to help U.S. families.
Here’s a look at five types of stimulus that could become a reality under a Harris administration.
1. Expanded Child Tax Credit
One of the key areas Harris is likely to focus on is the Child Tax Credit (CTC). During the pandemic, the CTC provided up to $3,600 per child under six and $3,000 for children aged six to 17.
Harris has been a vocal supporter of this program and, as president, she would likely push to restore the CTC to its 2021 levels as per CNET.
Additionally, she has proposed increasing the credit to $6,000 for newborns during their first year for middle- and low-income families.
2. Additional Tax Credits for Middle-Class Families
Harris has also proposed replacing the 2017 Tax Cuts and Jobs Act with the LIFT the Middle-Class Act, which includes a monthly refundable tax credit of up to $500 for individuals earning less than $100,000 a year.
This initiative is designed to help middle-class and working families manage the rising cost of living by providing them with extra funds for everyday expenses.
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3. Affordable Housing Initiatives
Addressing the housing crisis is another priority for Harris. According to PBS, Kamala has called for the construction of 3 million new housing units over four years to tackle the “serious housing shortage in America.”
Her plan includes tax incentives for builders constructing starter homes for first-time buyers, a $40 billion innovation fund to support businesses building affordable rental units, and an expansion of down payment assistance, offering up to $25,000 to help renters become homeowners.
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4. Student Loan Forgiveness
Harris has a strong record of supporting student loan relief. As a candidate, she proposed forgiving up to $20,000 in student debt for Pell Grant recipients who start a business in a disadvantaged community and operate it for at least three years.
While her broader student debt forgiveness efforts, including President Biden’s plan to cancel up to $20,000 per borrower, were blocked by the Supreme Court, Harris is expected to continue advocating for significant relief for student borrowers.
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5. Strengthening Healthcare Access
Healthcare is another area where Harris has shown commitment to expanding access. Initially a supporter of “Medicare for all,” Harris has since shifted her focus to strengthening the Affordable Care Act (ACA).
Her campaign suggests she would work to preserve and expand subsidies for private health plans and support new aid for residents in the ten states where Republicans have declined to expand Medicaid. These measures would aim to make healthcare more accessible and affordable for millions of Americans.
If Kamala Harris wins the 2024 election, these are some of the major stimulus programs she could pursue to provide economic relief and support to American families. Each initiative reflects her ongoing commitment to helping middle- and low-income citizens improve their financial well-being.