Vice President Kamala Harris announced her plan to cap child care costs for working families at 7% of their income, an initiative aimed at alleviating economic anxieties and attracting voters in the upcoming presidential election, Bloomberg reports.
Speaking at an event with the National Association of Black Journalists (NABJ), Harris stressed the importance of affordable childcare as a cornerstone for economic growth and individual opportunity.
“No family, no working family, should pay more than 7% of their income in child care,” she said.
The 7% cap was initially proposed in the Build Back Better package in 2021 and previously championed by President Joe Biden. Harris’ announcement marks the first time she has publicly campaigned on this specific policy.
“When you talk about the return on that investment, allowing people to work, allowing people to pursue their dreams in terms of how they want to work, where they want to work, benefits us all,” Harris said, acknowledging the current reality where many families face difficult choices between childcare and employment.
Harris’ announcement comes amidst a tense economic climate, with both her and Republican opponent Donald Trump unveiling proposals to address voters’ concerns over high prices.
Harris has proposed a range of economic initiatives including increased tax deductions for small businesses, down payment assistance for first-time homebuyers, and measures to curb rising rent and grocery costs.
Trump, on the other hand, is vowing to renew tax cuts from his 2017 law and further reduce the corporate tax rate. He has denounced Harris’ economic proposals as “communist” price controls.
Harris’ speech in Philadelphia follows Trump’s own meeting with NABJ journalists in July.
