According to a Harris-Waltz campaign official, Vice President Harris is expected to unveil a plan to lower housing costs and address the housing shortage through new home construction and down payment assistance for first-time homebuyers.
Harris’ “urgent and comprehensive four-year plan” includes building 3 million new homes, providing tax incentives to homebuilders for building “starter homes” for sale to first-time homebuyers, and creating a $40 billion innovation fund for local governments to build housing.
The plan also includes $25,000 in down payment assistance for first-time homebuyers. Renters who have made two years of current rent payments and are buying a home for the first time will be eligible for down payment assistance.
Additionally, her plan includes enforcing Fair Housing laws to expand rental assistance to eligible Americans, including veterans. She will push for legislation to crack down on companies that contribute to high rents and to eliminate tax breaks for large investors who buy up large amounts of single-family rental housing.
“[Former President] “Trump likes to say he’s a builder, but he got absolutely nothing done during his presidency,” a Harris-Waltz campaign official said in a statement. “New home construction slowed while Trump was in office, exacerbating the housing shortage and allowing his wealthy friends to benefit. Under the Biden-Harris Administration, more homes are being built every month than in any month of President Trump’s term.”
Harris is scheduled to unveil her cost-cutting plan at a rally in North Carolina on Friday. As part of her proposal, she will call for the federal government to ban companies from unfairly fixing prices to lower grocery prices.
