Harris’ New Economic Plan Includes $6,000 Credit for First-Year Parents

Democratic presidential candidate Kamala Harris is set to unveil a series of progressive economic proposals during a speech in North Carolina on Friday, according to campaign officials. The plan, which builds on President Biden's economic agenda, includes a significant new benefit for middle-class families: a $6,000 tax credit for parents during the first year of a child’s life.

This proposal aims to provide financial relief to families when expenses are high, and income often decreases as a parent steps out of the workforce for child care. Harris is also advocating for the return of the expanded child tax credit from 2021, which offered $3,600 per child under age five and $3,000 for older children under the American Rescue Plan.

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In addition to supporting families with children, Harris plans to expand the earned income tax credit to benefit lower-income adults who are not raising kids—a group frequently overlooked by federal anti-poverty programs.

Both Harris and her opponent, former President Donald Trump, have identified the fight against high prices and support for families as central themes of their campaigns. However, Harris faces the challenge of acknowledging the ongoing issue of high prices while distancing herself from the criticism of inflation often directed at President Biden.

As Harris introduces her detailed economic plan, she signals a commitment to addressing the financial struggles of American families, particularly new parents. This move also sets the stage for a broader debate on how best to support working families in the current economic climate. It is worth noting that Trump's VP pick, JD Vance, has also suggested expanding the child tax credit.