Harris vows tax cuts, down payment assistance to aid middle class

Vice President Kamala Harris on Wednesday promised to lower costs for middle class Americans through a combination of tax cuts and federal assistance to would-be homebuyers.

Harris's speech followed a comparable economic address from former President Donald Trump, which he delivered in Savannah, Georgia, on Tuesday. His vision included tax cuts, but also emphasized import tariffs to bolster domestic manufacturing.

"So let's start then with the first pillar of an opportunity economy, which is lowering costs," she said at the Pittsburgh Economic Club. "So I made that our top priority for obvious reasons, because if we want the middle class be the growth engine of our economy, we need to restore basic economic security for middle class families."

"To that end, the most practical thing we can do right now is to cut taxes for middle class families and individuals, and that's what we will do under my plan, more than 100 million Americans will get a middle class tax break," she promised. "[That] includes $6,000 for new parents during the first year of their child's life... We'll also cut the cost of childcare and elder care, and finally, give all working people access to paid leave, which will help everyone caring for children, caring for aging parents And that sandwich generation, which is caring for both."

To address housing costs, specifically, she vowed to provide cash assistance for homebuyers to make down payments and work foster housing construction.

"We will cut the red tape that stops homes from being built and take on in addition, corporate landlords who are hiking rental prices," she added. "And we will work with builders and developers to construct 3 million new homes and rentals for the middle class, because increasing the housing supply will help drive down the cost of housing. Then, we will also help first time home buyers get their foot in the door with the $25,000 down payment assistance."