“…
The vice president and Democratic nominee will propose restoring the expanded child tax credit of up to $3,600 a child, which was put in place in 2021 amid the Covid-19 pandemic and expired at the end of that year. She will also throw her support behind a new further expansion of the tax credit that would provide up to $6,000 in total relief for middle- and low-income families during the first year of a child’s life.
Both tax-credit proposals would require congressional approval, and could face opposition from Republicans. Some GOP lawmakers, including Sen. JD Vance, former President
Donald Trump’s running mate, have also called for an expansion of the tax credit.
… The campaign said Harris would propose a new tax incentive for companies that build homes for first-time buyers, but aides didn’t provide details on the plan, which would also require congressional approval. The plan echoes a proposal put forward by Mark Zandi and Jim Parrott, an economist and a housing finance analyst, respectively, who are advising the campaign on the issue.
“The basic principle is lower the tax liability of home builders to build affordable homes, and they will build more affordable homes,” said Zandi, chief economist of Moody’s Analytics. Zandi said a tax credit would be the “most logical way” of giving builders an incentive to boost supply. …”
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