Vice President Kamala Harris has recently unveiled her economic agenda for her potential presidency, addressing key issues such as price gouging and housing affordability in America. University of Michigan Professor of Public Policy and Economics, Betsey Stevenson, provides expert analysis of Harris’s proposed policies during a speech in Raleigh, North Carolina.
Stevenson begins by discussing the concept of price gouging, emphasizing that it is illegal and giving examples such as stores increasing shovel prices before a snowstorm. However, she notes that price gouging is not a significant contributor to the current inflation problem. Stevenson explains that price flexibility is often determined by the supply’s flexibility, highlighting Harris’s focus on addressing frustrations with corporate America’s practices of taking advantage of consumers.
The former US Department of Labor chief economist underscores Harris’s goal of preventing corporations from exploiting consumers and making economic systems more equitable. She praises Harris’s agenda for its potential to enhance economic efficiency and complement the Biden administration’s efforts to protect consumers by eliminating hidden fees and simplifying subscription cancellations.
One of Harris’s key proposals is a $25,000 credit for first-time homebuyers to assist with down payments. Stevenson acknowledges the potential benefits of such a policy but also emphasizes the importance of balancing it with measures to prevent market distortions. She suggests that Harris needs to outline concrete actions to make people’s lives easier and promote fairness in the economy.
Overall, Harris’s economic agenda aims to address pressing issues facing Americans, such as price gouging and housing affordability. By focusing on consumer protection and promoting economic fairness, Harris seeks to improve the lives of individuals and create a more equitable economic system. Stevenson’s analysis provides valuable insights into the potential impact of Harris’s policies and their alignment with broader efforts to enhance consumer rights and economic stability.