Ms. K. Harris's campaign focuses on food prices, housing and health care.

In a speech at a campaign rally in North Carolina on August 16, US Vice President Kamala Harris is expected to present some details of her economic agenda.

US Vice President Kamala Harris speaks at a campaign rally in Las Vegas, Nevada on August 10, 2024. Photo: Kyodo/VNA

Addressing high food and housing prices are seen as key issues that Harris will focus on to win voters' support. Accordingly, Kamala Harris will announce a plan to address high food costs by pushing for a federal price-gouging ban. She also aims to cut other costs to address inflation - a top concern of American voters. Although inflation has generally declined, food prices in the US are still 21% higher than 3 years ago. Meanwhile, high housing costs are another major factor driving inflation. Therefore, Harris plans to use federal resources to promote the construction of 3 million new homes if elected president, pass regulations to curb rent increases and provide $25,000 down payment assistance for first-time homebuyers. Vice President Harris’ housing plan also includes doubling the Biden administration’s $20 billion “innovation fund” for housing construction. At an event in Maryland on Aug. 15, President Biden and Harris highlighted the administration’s efforts to reduce prescription drug prices. They said the drug price negotiations would shave hundreds of dollars, even thousands, off the list price of the 10 most popular and expensive drugs covered by Medicare.

While the Democratic administration is pushing through economic reforms, consumer confidence remains low, especially among low-income earners, even as inflation cools. Inflation in the United States fell below 3% in July for the first time in nearly 3.5 years, according to the Labor Department on August 14, but food and consumer prices remain well above pre-COVID-19 levels and are a top concern for voters. Many say the ban on unreasonable price increases may not address the root causes of persistent inflation, which is a challenging issue.

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