Laura Beck
Aug 26, 2024
As DeLuca pointed out, “If you are a new family trying to live out the American dream, Vice President Kamala Harris’s policies might align with your wants and needs.”
As always, voters should carefully consider how each candidate’s policies might affect their personal financial situation and the broader economy.
A recent GOBankingRates survey found that Americans are divided on whether Kamala Harris or Donald Trump would better protect their financial health in the 2024 presidential election. The article outlines six ways Vice President Harris’s financial policies could benefit Americans, with input from financial experts, including Anthony DeLuca of Annuity.org.
Restoring and Expanding the Child Tax Credit: DeLuca noted Harris’s plan to reinstate a $3,600 tax credit per child, with a total benefit of $6,000 for middle- and lower-class families during their first child’s life. This could offer significant relief for families.
Extending the Inflation Reduction Act: DeLuca explained that Harris would likely extend the act, which helped make ACA plans more affordable and capped insulin co-pays at $35 for Medicare users.
Addressing Student Loan Debt: Harris has proposed ongoing forgiveness for student loans and a $6,000 tax credit for the lower- and middle-income classes, according to DeLuca.
Implementing Rent Control: Harris aims to cap rent increases at 5% for landlords with 50 or more units, as noted by DeLuca, potentially lowering housing costs for many.
Stimulating Housing and Homeownership: DeLuca said Harris wants to incentivize home construction and reduce down payments to $25,000, helping more people buy homes.
Increasing Social Security Benefits: Harris plans to raise benefits for retirees, which would enhance financial security for older Americans, according to DeLuca.
In conclusion, DeLuca remarked, “If you are a new family trying to live out the American dream, Vice President Kamala Harris’s policies might align with your wants and needs.”