Kamala promises to control prices on food, housing, prescriptions, force taxpayers to subsidize home buyers

Democrat nominee Kamala Harris has promised that she will control prices on food, prescriptions, as well as housing. She is also reportedly planning to give up to $25,000 in government subsidies for down payments for first-time home buyers, a campaign official said. The details of her full economic plan will be announced on Friday at a rally in Raleigh, North Carolina. 

One policy promise from Harris is that she will control prices set by corporations and landlords, saying she will go after those who are "price gouging."  

"When I am President, it will be a day one priority to bring down prices. I’ll take on big corporations that engage in illegal price gouging and corporate landlords that unfairly raise rents on working families," the VP posted.  

According to ABC News, these policies on "price gouging" will also apply to grocery stores, which often operate on razor-thin margins at about 1-3 percent for profits, per Marketplace.org. She is promising to cap the total out-of-pocket cost of prescription drugs for everyone in the country at $2,000.  

She is also planning on working to raise the minimum wage. Harris also plans on ending taxes on tips, a plan that Trump had announced previously and a policy that the IRS under the Biden-Harris administration has actively gone against, seeking to get better reporting for taxes on tip income, per an IRS press release that was introduced Feb. 2023. Harris is also planning on cracking down on mergers and acquisitions of companies in the food industry.  

The merger and acquisition policy may prevent food companies that seek to enter into a joint agreement with each other from doing so. Additionally, the policies may spell more inflation for the economy as more government spending would be needed to cover extra costs associated with covering the $25,000 down payments as well as well as other policy proposals that would massively increase government spending. The Harris campaign is also calling for the construction of three million new housing units and will propose a $40 billion fund for local governments to spend on housing proposals.