• Latest
  • Trending
  • All

new housing and end to price-gouging

August 17, 2024

London suburban housing project wins top UK architecture award

October 15, 2026

Thierno Barry: Everton player on the video he was scared to post

October 15, 2026

Armed police arrest man on small Orkney island

October 15, 2026

VisionQuest fans to meet Marvel villain from Wales, with Cardiff accent

October 15, 2026

Omagh Bombing Inquiry: ‘Fair chance’ bomb may have been prevented, senior officer tells inquiry

October 15, 2026

Australian woman charged with lacing colleague’s curry with snail poison

October 15, 2026

Trump calls off livestream of Fort Hood attacker’s execution by firing squad

October 15, 2026

UK threatens visa bans for Eritrea over migrant return policy

October 15, 2026

At least 27 pupils and teacher killed after Pakistan school roof collapses

October 15, 2026

Russia accuses Ukraine of attacking oil refinery after Zelensky says strikes to resume

October 15, 2026

Brazil’s Congress approves shorter working week in win for Lula

October 15, 2026

Hundreds of IDF investigations into killings without public outcome, BBC Verify finds

October 15, 2026
News
  • Login
  • Home
  • News
  • Sports
  • Worklife
  • Travel
  • Reel
  • Future
  • More
Thursday, October 15, 2026
No Result
View All Result

NEWS

3 °c
London
8 ° Wed
9 ° Thu
11 ° Fri
13 ° Sat
  • Home
  • Video
  • World
    • All
    • Africa
    • Asia
    • Australia
    • Europe
    • Latin America
    • Middle East
    • US & Canada

    Australian woman charged with lacing colleague’s curry with snail poison

    Trump calls off livestream of Fort Hood attacker’s execution by firing squad

    UK threatens visa bans for Eritrea over migrant return policy

    At least 27 pupils and teacher killed after Pakistan school roof collapses

    Russia accuses Ukraine of attacking oil refinery after Zelensky says strikes to resume

    Brazil’s Congress approves shorter working week in win for Lula

    Hundreds of IDF investigations into killings without public outcome, BBC Verify finds

    US teenager appears in court over alleged Hindu temple shooting plot

    Sydney teen charged with murder of boy who was shot in face

  • UK
    • All
    • England
    • N. Ireland
    • Politics
    • Scotland
    • Wales

    London suburban housing project wins top UK architecture award

    Armed police arrest man on small Orkney island

    VisionQuest fans to meet Marvel villain from Wales, with Cardiff accent

    Omagh Bombing Inquiry: ‘Fair chance’ bomb may have been prevented, senior officer tells inquiry

    Burnham had two hospitality dinners with Man City chairman, deleted records show

    Sussex time capsule celebrates 100 years of Winnie-the-Pooh

    We are behind you and that will not change, PM tells Zelensky

    Swimmer Archie Goodburn thanks prime minister as brain cancer review announced

    Ji-sung Eom racist abuse: Millwall boss Alex Neil criticised for stoppage comments

  • Business
    • All
    • Companies
    • Connected World
    • Economy
    • Entrepreneurship
    • Global Trade
    • Technology of Business

    Thousands of NI workers to get pay bump as Real Living Wage rises

    Netflix to shed 1,000 jobs in steepest cuts since 2022

    US inflation rises more than expected – here’s what is happening with prices

    Shropshire heating oil users face tough choices as prices rise

    Poundland in rescue talks as owners seek buyer

    Three things we’ve learnt about the UK economy from the IMF

    Cost-of-living struggles inspire new supermarket in Newcastle-under-Lyme

    Lego fraudster among last year’s most high-profile insurance scammers

    Healey faces £35bn Budget challenge to meet spending pledges, says think tank

  • Tech
  • Entertainment & Arts

    Meghan hits red carpet at Power of Women in Hollywood

    Margot Robbie unable to speak at Saltburn premiere

    Barbra Streisand: Siri can now pronounce my name

    Wes Anderson’s The Grand Budapest Hotel inspires cinema’s look

    Taylor Swift/ Travis Kelce romance reaches White House

    The Killers booed at Georgia concert after inviting Russian fan on stage

    Watch: Memorable moments from Parkinson's star-studded show

    Tom Jones: Neighbour surprised to find singer in flat below

    Black Country Folk Festival showcases local musicians

    Watch: Australians set new world record with Tina Turner dance

  • Science
  • Health
  • In Pictures
  • Reality Check
  • Have your say
  • More
    • Newsbeat
    • Long Reads

NEWS

No Result
View All Result
Home Business Economy

new housing and end to price-gouging

August 17, 2024
in Economy
5 min read
238 15
0
492
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Kamala Harris has called for millions of new-build homes and first-time buyer help, tax breaks for families and a ban on grocery “price-gouging” in her first speech focused on economic policy.

The Democratic presidential nominee’s plans build on ideas from the Biden administration and aim at addressing voter concerns after a surge in prices since 2021.

Many of the proposals would require action from Congress, where similar ideas have stalled in the past.

Donald Trump said the vice-president had already had more than three years with the administration to deliver her promises, which his campaign called “dangerously liberal”.

“Where has she been and why hasn’t she done it?” he asked.

Ms Harris hit back in a speech on Friday in North Carolina, stating: “I think that if you want to know who someone cares about, look at who they fight for.

“Donald Trump fights for billionaires and large corporations. I will fight to give money back to working and middle class Americans.”

The campaign’s proposals include a “first-ever” tax credit for builders of homes sold to first-time buyers, as well as up to $25,000 in down-payment assistance for “eligible” first time buyers, a move that her campaign estimated could reach four million households over four years.

She has also called for capping the monthly price of diabetes-drug insulin at $35 for everyone, finding ways to cancel medical debt, and giving families a $6,000 tax credit the year they have a new child.

She is supporting a federal law banning firms from charging excessive prices on groceries and urged action on a bill in Congress that would bar property owners from using services that “coordinate” rents.

Democrats and their allies are hoping Ms Harris will prove a more forceful and trusted messenger than President Joe Biden on economic pain.

Robert Weissman, the co-president of the consumer watchdog Public Citizen, characterised Ms Harris’s plans as a “pro-consumer, anti-corporate abuse agenda”.

“The [Biden] administration did talk about it but they did not promote proposed measures anywhere near as aggressive as Harris is doing,” he said.

But pollster Micah Roberts, a partner at Public Opinion Strategies, said inflation was likely to remain a challenge for Democrats, noting that voters have a long history of trusting Trump – and Republicans – more on economic issues.

“Trump’s been holding the advantage on this stuff for like a year plus,” said Mr Roberts, the Republican half of a bipartisan team that recently conducted a survey on economic issues for CNBC, which found that Trump still held a big lead over Ms Harris on the topic.

Without a huge change, he said it would be “hard for me to believe” that the margin had suddenly closed.

Though analysts say some of Harris’s proposals, such as the ban on price-gouging, are likely to be popular, they have also sparked criticism from some economists.

Bans on price-gouging already exist in many states, applied during emergencies such as hurricanes.

But economists say the term is difficult to define and widening such rules could end up backfiring, by discouraging firms from making more at times of short supply.

Michael Salinger, a professor of markets, public policy and law at Boston University’s Questrom School of Business, said a similar ban was discussed when he served as the lead economist at the Federal Trade Commission during the administration of George W Bush.

“I thought then that it was a bad idea and I think now that it’s a bad idea,” he said. “To impose controls on competitive markets will lead to shortages – that’s always been our experience.”

He said the Harris campaign’s other plans would also face questions, given their cost.

For example, the proposal to increase the tax credit for children to as much as $3,600, which Congress did temporarily during the pandemic and opted against extending, would cost more than $1tn, according to some estimates.

With populism ascendant in both parties, that cost has not dissuaded Trump’s choice for vice president, JD Vance, from backing an even bigger tax credit expansion.

Prof Salinger said Trump’s other economic plans would be unlikely to tackle inflation concerns.

Economists predict that increased drilling would have limited impact given the global nature of energy markets and have warned that Trump’s pledge to impose a tax of 10% or more on imports would drive up prices.

As it stands, price increases have been subsiding, as the shocks from pandemic-era supply chain issues and the war in Ukraine fade.

Inflation, which tracks the pace of price increases, was 2.9% in July, the smallest annual increase since March 2021, the Labor Department said this week.

That is getting closer to the 2% pace considered normal, though prices are up roughly 20% since January 2021.

“The problem that people object to is that even if inflation is down, the prices are still higher and that’s true but they’re higher because of the natural working of market forces,” Prof Salinger said.

“Trying to stand in the way of the working of market forces is a lot like trying to stop the tides,” he added. “You just can’t do it.”



Source link

Tags: housingpricegouging

Related Posts

US inflation rises more than expected – here’s what is happening with prices

October 14, 2026
0

Inflation has risen to 3.7% in the year to September, which is a higher-than-expected increase fuelled by petrol prices.Vehicle...

Three things we’ve learnt about the UK economy from the IMF

October 13, 2026
0

There is increased concern about how much money countries are borrowing, but the IMF said the UK is doing...

Healey faces £35bn Budget challenge to meet spending pledges, says think tank

October 12, 2026
0

Chancellor John Healey faces having to find £35bn to avoid cuts to public spending while meeting defence promises in...

  • Lee McGregor: Scot seeks world title in 2025 & Nathaniel Collins bout

    680 shares
    Share 272 Tweet 170
  • Belgian footballer arrested in cocaine investigation

    535 shares
    Share 214 Tweet 134
  • Next to raise prices to help pay for rising wage costs

    534 shares
    Share 214 Tweet 134
  • South Wales Police officers injured, one arrested

    526 shares
    Share 210 Tweet 132
  • ‘It stirred the people to breathless wonder and scalding abuse’: The tumultuous history of the Sydney Opera House

    521 shares
    Share 208 Tweet 130
  • Trending
  • Comments
  • Latest

Lee McGregor: Scot seeks world title in 2025 & Nathaniel Collins bout

January 16, 2025

Belgian footballer arrested in cocaine investigation

January 27, 2025

Next to raise prices to help pay for rising wage costs

January 7, 2025

World Cup 2022: TikTok brings football fever to millions of fans

0

UK economy will get worse before it gets better, warns chancellor

0

One of Central America’s most active volcanoes erupts again

0

London suburban housing project wins top UK architecture award

October 15, 2026

Thierno Barry: Everton player on the video he was scared to post

October 15, 2026

Armed police arrest man on small Orkney island

October 15, 2026

Categories

UK

London suburban housing project wins top UK architecture award

October 15, 2026
0

Williamson told the BBC that until he went to study architecture he lived in a council estate in the...

Read more

Thierno Barry: Everton player on the video he was scared to post

October 15, 2026
News

© 2023 GODJ - NEWS CORP - news.godj.com.

Explore NEWS.GODJ.COM

  • Home
  • News
  • Sports
  • Worklife
  • Travel
  • Reel
  • Future
  • More

Follow Us

  • Home Main
  • Video
  • World
  • Top News
  • Business
  • Sport
  • Tech
  • UK
  • In Pictures
  • Health
  • Reality Check
  • Science
  • Entertainment & Arts
  • Login

© 2023 GODJ - NEWS CORP - news.godj.com.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.