Vice President Kamala Harris is set to announce a comprehensive four-year plan aimed at reducing housing costs and addressing economic challenges faced by Americans. The plan includes a provision for $25,000 in downpayment assistance for first-time homebuyers, as well as initiatives to stimulate the construction of new housing units, such as offering tax incentives for building starter homes.
The announcement is scheduled to take place during a broader economic policy speech in North Carolina on Friday. In addition to the housing plan, Harris will also introduce a federal ban on price gouging in an effort to lower grocery costs. The vice president is expected to further discuss strategies to tackle high prescription drug prices as part of her policy rollout.
These initiatives come in response to persistent economic challenges faced by the Biden-Harris administration, with housing and food costs being particularly burdensome for many Americans. Despite recent reports of falling inflation, White House officials acknowledge that prices for essential goods remain high, contributing to a disconnect between positive economic indicators and public sentiment.
During a recent White House news briefing, Council of Economic Advisers chairman Jared Bernstein emphasized the administration's commitment to addressing these concerns, stating, 'We hear you. The president hears you. The vice president hears you.' The administration's focus on economic issues reflects a broader effort to improve the financial well-being of American households and strengthen the overall economy.
