During a recent campaign tour in western Pennsylvania, Democratic Vice Presidential nominee Kamala Harris took the opportunity to clarify her economic policies, which have been under scrutiny since their unveiling last week.
The proposals, which are projected to increase the national debt by $1.7 trillion, have raised questions about their feasibility and impact on the American economy.
As reported by The Post Millennial, when asked about her fiscal plans and how she intends to finance them, Harris responded, "You just look at it in terms of what we are talking about, for example around children." This statement was made in the presence of Minnesota Governor Tim Walz, his wife Gwen, and Harris' husband Doug Emhoff.
Harris' stance on child-related policies has been a contentious issue, particularly after her vote against President Trump's child tax credit in 2017. This move led to criticism labeling her as anti-child. However, Harris has recently shown support for the child tax credit, aligning with Donald Trump and JD Vance's promise to reinstate it. She has also pledged to extend the Earned Income Tax Credit.
"And the child tax credit and extending the EITC," she elaborated, "that, at $6,000, for the first year of a child's life. The return on that investment, in terms of what that will do and what it will pay for, will be tremendous. We've seen it when we did it, in the first year of our administration, we reduced child poverty by over 50 percent. So that's a lot of the work."
Harris also addressed her proposed initiative to construct 3 million new homes within her first 100 days in office and provide $25,000 to every first-time homebuyer. She argued that these measures would yield a significant return on investment, particularly in relation to children's futures. However, the specifics of this return remain unclear.
"I think it's a mistake for any person who talks about public policy to not critically evaluate how you measure the return on investment," Harris stated. "When you are strengthening neighborhoods, strengthening communities, and in particular the economies of those communities, and investing in a broad-based economy, everybody benefits. And it pays for itself."
Harris' economic plan also includes medical debt forgiveness and price-controls. She asserted that the plan "pays for itself," suggesting that future earners would be able to contribute more in taxes.
However, critics of Harris' plans, including economists and media outlets, have expressed concerns about the potential negative impacts on the economy. The campaign has stated that additional costs would be covered by increased taxes on the wealthy and corporations. Critics argue that this could lead to reduced investment and job creation in the US. Jason Furman, an economist from the Obama era, warned that Harris' plans could result in "bigger shortages, less supply and ultimately risk higher prices and worse outcomes for consumers."
Despite the controversy surrounding her economic policies, Harris has not held a press conference or given a formal interview since assuming her position as the Democratic Vice Presidential nominee. This has raised further questions about her plans and their potential implications for the American economy.
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