In the first major policy address of her campaign, Vice President Kamala Harris is expected on Friday to unveil an economic plan that tackles the high cost of housing and groceries, two sectors hit hard by inflation.
Harris' "urgent and comprehensive" four-year plan to lower housing costs includes the construction of millions of new housing units, tax incentives to build starter homes, and $25,000 in down payment assistance for first-time homebuyers. It would also expand rental assistance for veterans and other eligible Americans.
In addition, the proposal is expected to include a $40 billion fund to help local governments finance housing developments, which expands on a $20 billion proposal from the Biden White House.
In a statement, the Harris campaign slammed former President Donald Trump's record on housing, saying, "Trump likes to talk about being a builder, but when he was President, he simply never got it done."
It continued, "New home construction slowed down while Trump was in office — tightening the housing crunch and enabling his wealthy friends to profit. More housing units have been under construction every month of the Biden-Harris Administration than during any month of Trump's presidency."
During a speech in New Jersey Thursday, Trump said, "Kamala Harris is a radical California liberal who broke the economy, broke the border, and broke the world, frankly."
Harris is also expected to announce "the first-ever federal ban on price gouging on food and groceries — setting clear rules of the road to make clear that big corporations can't unfairly exploit consumers to run up excessive corporate profits on food and groceries," the campaign said in a statement.