On Friday, the Harris campaign revealed plans to restore and enhance the child tax credit, a key component of her forthcoming economic agenda, which she will outline in a policy speech in North Carolina.
Vice President Harris will uphold President Biden’s pledge to avoid raising taxes on anyone earning less than $400,000 per year. Additionally, the campaign revealed strategies for reducing taxes for middle-class families.
Vice President Harris to Uphold Biden’s Promise of No Tax Hikes for Those Earning Under $400K
A central element of her plan involves reinstating the expanded child tax credit introduced in the American Rescue Plan of 2021, which expired later that year. According to Harris campaign aides, she aims to revive this policy, offering up to $3,600 per child for eligible families.
The vice president will advocate for providing up to $6,000 in tax relief for middle- and low-income families during their child’s first year, as detailed by the campaign.
Beyond the child tax credit expansion, Harris is also pushing for an increased earned income tax credit of up to $1,500 for lower-income individuals who do not have children.
These tax policies will form a core part of Harris’s economic platform as she campaigns for president following Biden’s decision to step down from the race. The campaign also highlighted other aspects of her plan, including a proposed federal ban on price gouging and measures to boost housing supply.
The Harris campaign is expected to contrast her proposals with former President Trump’s plans, which include extending the 2017 tax cuts. Trump has criticized Harris for contributing to inflation and accused her of advocating the largest tax increase in history.
The campaign will also likely leverage this policy to criticize Trump’s running mate, Sen. JD Vance (R-Ohio), who has faced renewed scrutiny over his 2021 remarks about “childless cat ladies” running the country. Vance has defended his comments, suggesting they were intended to critique what he sees as the Democrats’ anti-family stance.
