US Vice President and democratic presidential nominee Kamala Harris is aiming to not only nearly double the child tax credit enacted via the American Rescue Plan in 2021.
In a recent policy speech in Raleigh, North Carolina, Harris expounded on her economic plan that included a proposal to credit to $6000 per child to US parents, up from the proposed $3600 from three years ago.
“We will provide $6,000 in tax relief to families during the first year of a child’s life,” VP Harris told the crowd.
Her announcement is on the heels of former president Trump’s running mater Sen. JD Vance of Ohio, who is proposing $5,000 child tax credit.
“Trump will consider a significant expansion of the child tax credit that applies to American families,” a rep from Vance’s camp told CNBC in a statement
Harris’s tax credit proposal follows other ambitious promises outlined in her economic agenda released last week, which includes a federal ban on price gouging for food and groceries.
As previously reported by ESSENCE, the proposal aims to make voters aware of her plans to tackle the issues surrounding rising food costs and other effects of ballooned inflation. The plan also will address bolstered antitrust enforcement in the grocery sector and greater latitude to investigate corporate practices, according to a news release from her administration.
“Vice President Harris knows that rising food prices remain a top concern for American families,” a statement shared with ABC News from the Harris administration reads. “Many big grocery chains that have seen production costs level off have nevertheless kept prices high and have seen their highest profits in two decades. While some food companies have passed along these savings, others still have not.”
The proposal comes at a time when American shoppers are feeling the squeeze of price jumps on items that were significantly less costly just a year ago.