Harris to lay out her vision for the economy in a policy speech in Raleigh, N.C. (2024)

Democratic presidential candidate Kamala Harris on Friday will reveal more of her plan for the economy. She’s expected to propose cutting expenses such as health care and groceries.

LEILA FADEL, HOST:

The economy remains a top priority for many voters.

MICHEL MARTIN, HOST:

And, later today, Vice President Harris is rolling out her economic agenda. This comes as the Democratic presidential nominee has been facing criticism for offering scant details about her own vision for the job and as her Republican opponent Donald Trump tries to blame her for high prices.

FADEL: Joining us now is NPR White House correspondent Asma Khalid, who's been covering the Harris campaign. Good morning.

ASMA KHALID, BYLINE: Good morning, Leila.

MARTIN: So what's the vice president proposing?

KHALID: Well, the big headline is that Harris is calling for a substantial expansion of the child tax credit, up to $6,000 for low- and middle-income families when they have a new baby. She also wants to restore the child tax credit that families got during the pandemic - and, just to remind folks, that was $3,600 per child. You know, the program was really popular, and it was credited with reducing child poverty significantly. It's worth pointing out that some Republicans, including the GOP vice presidential nominee, JD Vance, have also called for bolstering the child tax credit.

FADEL: So money for low- and middle-income families - what else is in the plan?

KHALID: She's been foreshadowing some of her ideas out on the campaign trail. Recently, in her speeches, I've heard her use this one line again and again. Take a listen.

(SOUNDBITE OF ARCHIVED RECORDING)

VICE PRESIDENT KAMALA HARRIS: While our economy is doing well by many measures, prices for everyday things like groceries are still too high. You know it, and I know.

KHALID: And later today, in North Carolina, she's going to really focus on cutting expenses that are top of mind for voters - things like health care, housing and groceries - and to this point on groceries, I mean, that's something that Harris is expected to single out today. She's calling for a federal ban on price gouging in the food sector. Her campaign specifically cites the price of meat. Also, when it comes to prescription drug prices, she's calling for a $35 cap on the cost of insulin for everyone, not just seniors.

FADEL: OK, so you also mentioned housing a moment ago. We often hear about the high cost of housing, so what's her plan there?

KHALID: She's suggesting some ideas that expand upon some of the things we've heard in the Biden administration, but I would say these are bigger and bolder than what we have seen from the White House to date. One thing that caught my eye is that she wants to give first-time home buyers $25,000 toward their down payment. The campaign estimates that could help some 4 million people. It is a much more expansive version of a plan that Biden announced in his State of the Union. Harris is also calling for new tax breaks that her campaign says could help lead to 3 million new housing units and help fill a housing shortage, and she's calling on Congress to pass legislation to prevent Wall Street investors from buying up large numbers of single-family rental homes.

FADEL: So how does this Harris economic agenda differ from what Biden was proposing?

KHALID: Well, much of the substance does seem to be in line with President Biden's vision for the economy, which I would say is to be expected. She's the sitting vice president in this administration...

FADEL: Right.

KHALID: ...But she's a different messenger. You know, she's not adopting Biden's language. She's not out there talking about Bidenomics. But she is still, like Biden, talking about trying to build up the middle class. This speech today is about contrasting herself with her Republican opponent. The economy is one of the biggest political vulnerabilities for Harris, so she needs to have an answer for voters. Republicans have been trying to tie her to the Biden economy. Polls show that voters do tend to trust Trump more on his handling of the economy, though the former president does not yet seem to have much of an edge on this issue against Harris - at least, as much as he did against Biden.

FADEL: NPR's Asma Khalid. Thank you, Asma.

KHALID: Good to speak with you.

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