What experts say about Harris' first-time homebuyer proposal
One of Democratic candidate Harris' proposals to help Americans' personal finances is a $25,000 down payment assistance for first-time homebuyers, along with a call for the construction of 3 million new housing units. This, she says, will both help buyers afford down payments and help address the housing supply shortage.
What do financial experts have to say about that plan? Kiplinger personal finance writer Erin Bendig heard from multiple finance and real estate professionals about the proposal. While there were acknowledgments it could help buyers, there were also concerns it could do more to help sellers.
Read more here: Is Harris’s $25k Down Payment Assistance Good or Bad for Homebuyers?
Harris talks economy on Fox News while Trump does on Univision
Both Vice President Kamala Harris and President Donald Trump took moments to try to tout their plans for the economy Wednesday night in high-profile appeals outside their voter base comfort zone.
Harris undertook a 27-minute interview with Bret Baier on Fox News that started combatively and ended combatively, marked by plentiful interruptions and firm, if nominally polite, disagreements. Midway through the interview, Harris pushed to discuss her economic plans, mentioning topics like "affordable housing" (likely referring to Harris' plan for down payment assistance for first-time homebuyers, along with the construction of 3 million new housing units), "strengthen[ing] small businesses" (she's proposed expanding tax incentives), and "taking care of young parents" (Harris has called for expanding the child tax credit).
Read more: Kamala Harris Child Tax Credit Proposal: What to Know
Asked why people say they trust Trump on the economy more than her, Harris said her plan will strengthen the economy while his "would be again to give tax cuts to billionaires and the biggest corporations in our country and blow up our deficit."
Meanwhile, Trump took questions on a town hall with Univision, the Spanish-speaking television network. There, he answered a question about the economy with his plan to increase domestic energy production ("drill, baby, drill," as he says) in order to decrease costs. Asked about creating job opportunities, he pointed to his plan for "a combination of taxes, tariffs and incentives."
Read more: Tariffs: What They Are and How They Impact Your Wallet
Of course, there are pros and cons to each proposal. Harris' homebuyer credit could increase demand and help sellers without an adequate rise in housing units, and Trump's energy plan won't necessarily move the needle on gas prices and electricity, which are impacted by a wide variety of factors, while his tariffs could end up increasing the price of products for consumers.
In both cases, if executed as stated, their economic plans would increase national debt, per a Committee for a Responsible Federal Budget analysis. Trump's would increase debt by $7.5 trillion, while Harris' would notch $3.5 trillion through 2035.
- Alexandra Svokos
Alexandra covered the 2016 election for Elite Daily, traveling from the Iowa caucus to both parties' conventions and the final presidential debate in Las Vegas. She was at the Javits Center on election night to cover the Clinton campaign event. She additionally worked on midterm election coverage for Bustle and ABC News in 2018 and 2022, served on an ABC News fact-check team during 2019 primary debates, and helped manage election coverage for ABC News' website in 2020, including leading coverage on Jan. 6, 2021.