Here’s an overview.
- federal limits on price increases for food producers and grocers
- legislation creating a new series of tax incentives for builders who construct “starter” homes sold to first-time homebuyers
- $40 billion innovation fund for businesses building affordable rental housing units
- provide $25,000 in potential down payment assistance to help some renters buy a home
- accelerate Medicare and other federal programs to “negotiate” with drugmakers to lower the cost of prescription medications
- work with state entities to cancel $7 billion of medical debt for up to 3 million qualifying Americans
- make permanent a $3,600 per child tax credit
- new $6,000 tax credit for those with newborn children
- cut taxes for some frontline workers by up to $1,500
Each one of these is inflationary in its own right, and each one will drive a need to increase taxes in order to pay for them.
It seems to me—and the press is complicit in this, however unintentionally, with its focus—that Harris’ plan for price controls on those food producers and grocers to combat what she’s pleased to call “price gouging” is nothing but a distraction to draw attention away from her other proposals in order to get many of them enacted unnoticed.