Kamala Harris, a prominent political figure, reveals a series of economic policies aimed at tackling the soaring cost of living. She discusses strategies for improving housing affordability, addressing rising rents, and increasing housing supply. Joined by economics correspondent Victoria Guida, they dive into the debate over housing regulations and price gouging solutions. The duo also navigates the complexities of government price controls and potential legislative responses, highlighting the implications for voters amid the 2024 election.
Kamala Harris aims to tackle rising living costs by proposing economic policies focused on housing affordability and food pricing strategies.
Harris's approach includes incentivizing builders to increase housing supply while addressing price gouging through FTC empowerment amid potential political backlash.
Deep dives
Kamala Harris's Policy Focus
Kamala Harris is expected to highlight her economic policy agenda while differentiating herself from President Biden in her upcoming speech. The emphasis will likely be on specific areas such as housing affordability, which has become a pressing issue with rents rising by approximately 20% since Biden took office. Harris plans to propose incentives for builders to increase housing supply and assist first-time home buyers as solutions to address the housing crisis. This approach aligns with broader Democratic goals to reduce zoning regulations to facilitate development.
Addressing Price Gouging in the Food Sector
Another key aspect of Harris's upcoming speech will focus on tackling price gouging particularly within the food industry. The proposed measures aim to empower the Federal Trade Commission to penalize companies that exploit consumers through excessive pricing, although a clear definition of price gouging still needs to be established by Congress. This initiative is seen as a way to ensure fair pricing rather than implementing strict price controls. However, this approach poses political risks, as it invites criticism regarding government interference in market pricing.
Today, Kamala Harris is expected to unveil a range of economic policies taking aim at the cost of living — from groceries to housing to the care economy. While Donald Trump and allies appear poised to assail that agenda as “price controls,” Harris is betting that her proposals will connect with voters’ as inflation and its effects continue to define the 2024 election. Economics correspondent Victoria Guida joins Playbook co-author Ryan Lizza to break it all down.
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