Vice President Kamala Harris to Outline Economic Policy for Black America: Five Key Points to Expect

Vice President Kamala Harris is set to unveil her economic policy for Black America on Wednesday, highlighting the Biden-Harris administration’s successes in narrowing the racial wealth gap. With Black wealth up by 60% since before the pandemic, over $167 billion in student loan debt forgiven, and Black unemployment at a historic low, Harris aims to continue advocating for Black Americans.

In her upcoming address, Harris will discuss five key points to further support Black communities. Firstly, she plans to lower the cost of food and groceries, as Black families spend significantly more on food than white families. Harris will push for a federal ban on price gouging on groceries and empower authorities to investigate and penalize companies exploiting consumers.

Secondly, Harris aims to reduce the cost of renting and owning a home, crucial in closing the racial wealth gap. By challenging corporate landlords and providing financial support for first-time homeowners, Harris hopes to make housing more affordable for Black families.

Additionally, Harris plans to put money back into the pockets of Black families by introducing a $6,000 child tax credit, cutting taxes for frontline workers, and expanding tax credits. She also aims to lower the cost of prescription drugs and relieve medical debt, which disproportionately affect Black individuals.

Lastly, Harris will increase support for Black-owned businesses, building on the momentum of Black small businesses starting up at the fastest rate in 30 years under the Biden administration. By expanding tax deductions and increasing access to capital, Harris hopes to boost the success of Black entrepreneurs.

With these initiatives, Vice President Harris is committed to advancing economic equity and prosperity for Black Americans.