5 economic stimulus packages to expect if Kamala Harris wins the presidential election

The November presidential election is drawing ever closer. Democratic candidate Kamala Harris and Republican candidate Donald Trump continue to hold campaign events and share their proposals to get out the vote.

Harris' plan includes several measures to help American families, which include some economic stimulus and tax credits for people with children, students, housing and access to health care.

“Vice President Harris and Governor Walz are fighting for a New Way Forward that protects our fundamental freedoms, strengthens our democracy, and ensures every person has the opportunity to not just get by, but to get ahead,” states as the mission of their governing project.

“She promises to be a president for all Americans, a president who unites us around our highest aspirations, and a president who always fights for the American people. From the courthouse to the White House, that has been her life’s work,” the plan also states.

You may be interested in: These were former President Obama’s harsh words about Trump

5 economic stimulus packages to expect if Kamala Harris wins the presidential election

We share with you the measures and economic incentives that Kamala Harris proposes to implement if she becomes president.

Child Tax Credit and Earned Income Tax Credit

The Harris-Walz campaign has proposed tax cuts to help middle- and working-class Americans. Included in this proposal are the Child Tax Credit and the Earned Income Tax Credit.

Harris has proposed expanding the Child Tax Credit to provide a $6,000 tax cut to families with newborn children.

Housing

Vice President Harris has unveiled a comprehensive plan to build three million more affordable rental and housing units to end the national housing supply crisis in her first term.

As more new homes are built and the supply of affordable housing increases, Vice President Harris has also proposed offering up to $25,000 to first-time homebuyers to help with their down payment.

Help for small business owners

As part of her Opportunity Economy agenda, she has laid out a plan to help small businesses and entrepreneurs innovate and grow. Harris has set an ambitious goal of 25 million new business applications by the end of her first term.

To accomplish this, she proposes expanding the tax deduction for expenses to start a new business from $5,000 to $50,000, as well as cutting red tape. She will also increase the share of federal contract dollars that go to small businesses.

Health care

Her plan notes that it will “build on the Biden-Harris administration’s successes in lowering the cost of life-saving prescription drugs for Medicare beneficiaries” and proposes expanding the $35 cap on insulin and the $2,000 cap on out-of-pocket spending to all Americans.