I'm not sure if this is the right solution, but we need to make it easier for younger people to own homes. Otherwise Blackrock and the like will own all single family homes in about 20 years.
Sorry boomers and the "I got mine, eff you" folks.
Harris 2024 election thread
- Thread starter Pokey
- Start date
Sorry boomers and the "I got mine, eff you" folks.
God and mega corporations. Not being hyperbolic in the least when I say it's what Republicans worship.
have to see the specifics on it first , MANY MANY MANY states and State Housing Authroities already have similar things already in place running under state Budgets....they target low income familes or first time home buyers generally and have proven to be very effective at the state levels already for the last several decades.
I assume this will be nothing more than to offer a similar system federally....which will then allow the states and local housing authorities to remove this costs from their State Budgets and has SERIOUS potential to save states a HUGE chunk of money if they can sunset their own programs and roll everything up to the Federal
The how matters a great deal with this. A $25k benefit to all first time homeowners is going to have a similar impact of inflation/increasing home prices that PPP loans and covid stimulus checks did elsewhere.
This is a supply issue, not a price issue. When the supply of homes increases the costs will come down. It might be a better idea to go after or ban large hedge funds from buying homes. They accounted for 27% of all home purchases last year with the latest data available and are driving up costs.
ummmm what about these that have already been around for Decades upon Decades ???? If Harris plan is to consoliate all of the State Programs into One Federal program....I think that will SAVE TONS and LOWER inflation.
mugatu
Ranger
Yes getting hedge funds out of the single family home market would do wonders.
We also need to stop having nearly all new builds be 3000+ sqft homes. Give people a chance for entry level that's not necessarily 40 years old.
mugatu
Ranger
Wasn't aware of those programs. But if this is a replacement and not addition then i agree.
mugatu
Ranger
Good. Now have these homes be something a young family on an average income can afford while paying for childcare instead of some huge home that is stupid expensive to buy and maintain.
1676 of them are already FULLY FUNDED and these are Mostly State Offerings....so Tax PAYER Funded.
this means at this many programs we appear to have that EACH STATE of the USA has an AVERAGE of 34 FULLY TAXPAYER FUNDED downpayment Assistance Programs.
avg of 34 PER STATE.
Yeah...lots of money can be saved if this is done correctly
More Details of proposals released
Harris wants to give families a big tax break for a new baby
Updated August 16, 2024 at 07:00 AM ET
Vice President Harris is unveiling an economic plan on Friday that will focus on the high cost of housing, groceries and raising kids — top-of-mind expenses for voters pinched by years of rising prices.
The plan includes a major expansion in the child tax credit. Low- and middle-income families would get up to $6,000 when they have a new baby. And she wants to restore the pandemic-era program that gave families up to $3,600 per child.
A bigger child tax credit has also been proposed by Republicans. Vice presidential candidate Sen. JD Vance said on Sunday that he would like to see it expanded to $5,000 per child.
Polls have shown President Biden has struggled to get credit for his efforts to lower prices and many voters continue to trust Republican presidential nominee Donald Trump more on the economy — but polls also show that voters are less critical of Harris on economic issues.
"While our economy is doing well by many measures, prices for everyday things like groceries are still too high. You know it and I know it," Harris said on the campaign trail in Las Vegas on Aug. 10.
In Raleigh, N.C., Harris will give the first major policy address of her campaign. It's a city where her campaign is highlighting innovative affordable housing developments — in a state that Democrats are trying to win the presidential race for the first time since 2008.
She plans to announce a proposal for tax breaks that her campaign said would lead to 3 million new housing units in four years, going beyond a Biden White House proposal to ease housing shortages with 2 million new and renovated homes.
Harris' plan would give unspecified tax incentives to homebuilders for houses geared to first-time buyers and for affordable rental housing. She would propose a $40 billion fund to help local governments finance developments, up from a $20 billion proposal from the Biden White House. Like all spending, these proposals would depend on Congress being willing to fund them.
Harris would ask Congress to give first-time homeowners up to $25,000 toward their down payments — a plan that her campaign said could help more than 4 million first-time buyers. That is more generous than a plan Biden announced in this year’s State of the Union address that would have given first-time homebuyers a $10,000 tax credit, and help about 400,000 first-generation homebuyers with down-payment assistance.
Harris would crack down on corporations, her campaign says
Harris will argue that corporations are making too much money from consumers as she lays out her economic priorities. It's a theme she has foreshadowed on the campaign trail, noting her work on price-fixing when she was California's attorney general.
"When I am president, it will be my Day One priority to fight to bring down prices, to take on the big corporations that engage in illegal price gouging, take on corporate landlords that unfairly raise rents on working families; to take on Big Pharma and cap the cost of prescription drugs for all Americans," she said in an Aug. 7 speech in Detroit.
Harris and Biden gave campaign-style remarks on Thursday about their efforts to lower prescription drug prices for people on Medicare — a moment where Harris sought to show she was involved in a policy that polls show is popular, but for which Biden has received little credit.
Like Biden, Harris would propose that a $35 cap on the price of insulin be extended for everyone, not just seniors -- as well as a $2,000 cap on out-of-pocket expenses for prescription drugs.
Her campaign said Harris would back legislation proposed by Sen. Sherrod Brown, D-Ohio, to restrict tax breaks for corporate investors that buy up homes, as well as a bill proposed by Sen. Peter Welch, D-Vt., and Sen. Ron Wyden, D-Ore., that would ban rental property owners from buying algorithmic data that helps them hike rent prices.
When it comes to grocery prices, Harris will call for a federal ban on price gouging in the food sector. She will focus on meat prices in particular, blaming the concentrated meat processing sector for driving up grocery prices, and she will pledge that her administration would more aggressively investigate and prosecute price-fixing in the meat supply chain.
This proposal is similar to an approach taken by the Biden administration, which said in Sept. 2021 that it would crack down on price fixing and enforce antitrust laws in the meat sector, as well as provide funding to smaller players to try to boost competition.
Harris’ plan would give the Federal Trade Commission and state attorneys general the authority to investigate corporations and impose penalties, her campaign said. Many large retailers have kept grocery prices high instead of passing savings along to consumers, Harris is set to say.
mugatu
Ranger
Harris' plan would help cash-strapped renters by blocking data firms from hiking lease rates, and by preventing Wall Street investors from buying homes in bulk to resell at a premium.Harris will also call for the U.S. to construct 3 million new housing units over the next four years. In order to facilitate that, she will call for new tax incentives for builders who construct "starter homes."
As the supply of entry-level homes expanded, the Harris plan would "provide working families who have paid their rent on time for two years and are buying their first home up to $25,000 in down-payment assistance, with more generous support for first-generation homeowners," according to the fact sheet.
Yep.
She may be attempting to cutoff Trump/Vance.
1) She is now for no tax on tips that Trump proposed in June
2) She appears to support an increase child credit that Vance mentioned just last week.
Its the Mid Leaning Conservative Ticket the GOP never Offered and is a step back toward the Middle for the Dems.
As evidence. 2 of the 4 squad members were primaried and kicked out by their own party. Omar was close (damnit I wanted her out). There is a very visible shift of the GOP further Right and the Dem Party toward a more Centralized position vrs the past. At this point we damn near have a 4 party System. Liberal Progressives, Classic Democrats , Classic GOP, MAGA
mugatu
Ranger
Pre 2016 presidential candidates always did a pivot to the center prior to the general election. Looks like she's smart enough to read the room and see the HUGE gap in the middle full of unhappy Dem and traditional GOPers. Happy to see it and hope she sticks to what she's said so far.
Also try a mental exercise.
If I set down with a random Middle Leaning Conservative male (FYI in Oklahoma I do this EVERY DAY)--- there is a VERY highly likelihood we would be able to talk Hunting, Fishing, Beer, Church, Living pay check to Paycheck at some point in our lives, Talking about using a 401k to get to Retirment, how our kids plan to pay for college or if they are even going to go, Growing up poor with a strong family bond that made us feel more wealthy, How important our church was during that upbringing and what activities we do and plan and participate in with our CURRENT churches, and tons of human and personal sacrifice and struggles through all those times.
I couldn't do that with Trump OR Vance.....No way. You imagine Trump trying to filet a catfish or even trying to bait a hook. Hell getting on and off a bass boat at an Oklahoma Dock would be an adventure. They don't understand relying on a 401k for retirement, they don't understand paycheck to paycheck or growing up poor, They don't worry about how their kids will pay for college and their personal struggles and sacrifices in their lives are not something Either of us will EVER be able to relate to
I'm confident I could sit down with Walz AND HIS WIFE AND KIDS and discuss all of those things and very much understand each other on a level Trump and Vance doesn't even understand
Harris saw that missing component and picked a VP that nailed that position and in doing so cemented the ticket toward the Middle.
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Because she really is.
Republicans have never in modern history given a single crap about middle class tax cuts. They say they do but they never actually do anything about it, the closest they've come is very (very very) moderate short term cuts for the middle class that is paired with massive windfalls for corporations and the extraordinarily wealthy. That's why Trump increased the deficit by a ton even if you exclude covid.
Texas power companies never did that. And Texas power prices are capped. The public utilities rules and ERCOT rules are public.
There were companies that charged customers an monthly fee and then one received the publically available at all times that update every 5 minutes wholesale clearing price that chose poorly during Uri but those people also got paid to use electricity during negative prices and they go negative more than they hit the cap.
Power prices in every interconnection in the country are regulated and the rules are public. The markets may be deregulated at the consumer level but the generation and pricing are regulated.
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