Kamala Harris lays out economic agenda in major campaign speech

Hoping to appeal to a broad range of voters, Vice President is leaning on President Joe Biden's economic plan while proposing new ideas

Democratic presidential nominee Vice President Kamala Harris speaks at a campaign event in Raleigh, North Carolina. AP

Kamala Harris unveiled major economic proposals on Friday that include plans to cut taxes for many Americans, enable access to affordable housing, and ban “price gouging” on food and groceries.

The Vice President and Democratic presidential candidate made the announcement during a campaign rally in Raleigh, North Carolina, where she lay out her economic agenda for her first 100 days in office.

“Building up the middle class will be a defining goal of my presidency, because I strongly believe when the middle class is strong, America is strong,” she said.

“I will be laser-focused on creating opportunities for the middle class. Together, we will build what I call an 'opportunity economy'.”

Ms Harris, who only began campaigning last month after President Joe Biden abruptly dropped out of the race, is leaning on her boss's economic agenda.

But she is also introducing new ideas, including expanding child tax credits and aid in mitigating America's high childcare costs, where parents often must pay $30,000 annually per child for day care.

Her plans includes a $25,000 subsidy for first-time homebuyers, a $6,000 tax credit for families with newborns, and a plan for the construction of three million new housing units.

The aim is to contrast her economic plans with that of her Republican rival, former president Donald Trump, whose economic plans focus on tackling inflation and the rising costs of everyday items.

“Donald Trump's plans to devastate the middle class, punish working people, and make the cost of living go up for millions of Americans,” Ms Harris told the crowd.

“On the other hand, when I'm elected president, what we'll do is increase the security and stability financially of your family and expand opportunity for working in middle class Americans.”

Mr Trump has also vowed to impose fixed tariffs on all imports and slash corporate taxes.

The former president has said Ms Harris's plans to enact federal price controls on groceries amounted to communism.

Ms Harris's appearance in North Carolina comes after her first joint speech with Mr Biden since he ended his re-election bid and endorsed her for the Democratic Party nomination.

They spoke at an event on Thursday, during which they touted the administration's work on lowering prescription drug costs.

The economy remains one of the highest concerns for American voters, with many feeling increased pressured over the high costs of food and housing as well as health and childcare.

Republicans have often fared better with working-class Americans who see the party as stronger on the economy than Democrats.

Ms Harris is hoping to appeal to appeal to a broad segment of American voters, including working-class and younger voters who are anxious about their economic prospects, by continuing to push for the cancellation of student and medical debts, and lowering the cost of housing and health care.