Vice President Kamala Harris has proposed a comprehensive economic agenda to address the U.S. housing affordability crisis by pledging the construction of 3 million new homes and rentals within her first term.
During a speech in Raleigh, N.C., Harris emphasized, 'There’s a serious housing shortage.' She pointed out that the difficulties of building in many areas are driving up home prices.
Harris’s plan includes providing first-time homebuyers with up to $25,000 in downpayment assistance and a $10,000 tax credit, effectively enhancing affordability for new buyers.
The plan also introduces a tax incentive for builders of starter homes, aiming to combat recent cuts in affordable housing funding that have hampered construction efforts in California.
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