by Diana Glebova, Josh Christenson and Victoria Churchill
Vice President Kamala Harris on Friday unveiled the economic policies she would enact in her first 100 days in office — and it comes with a whopping estimated $1.7 trillion in handouts, as well as government price controls on groceries amid ravaging Biden-Harris administration inflation.
Her economic plan includes measures to dole out $25,000 to help first-time homeowners with their down payments and give up to a $6,000 tax breaks for lower and middle-income families who have a child in their first year of life. Harris did not say what incomes qualify as “lower” and “middle.”
The housing subsidies alone are “absolutely inflationary” and would “push a $2 trillion dollar deficit even higher,” Brian Riedl, a senior economic fellow at the Manhattan Institute, told The Post, referrring to the already projected budget shortfall for 2024. Those subsidies make up just $200 billion of the total $1.7 trillion handouts pledged to voters.
‘Reckless’ handouts
A slew of economists The Post spoke to have already slammed the plan’s hefty price tag amid an already-struggling economy.
“The CRFB estimates make it clear that the Harris agenda—like Biden’s before it—will be fiscally reckless and economically damaging,” Adam Michel, the director of Tax Policy Studies at the libertarian Cato Institute, told The Post.