Kamala Harris Econ’s proposal includes $25,000 for first-time home buyers

“Many Americans work hard at their jobs, save and pay their rent on time, month after month. But they can’t save enough after paying their rent and other bills to save for a down payment — denying them the opportunity to own a home. and building wealth,” the campaign said in a preview statement obtained by Business Insider.

The campaign estimates the proposal would allow more than one million first-time buyers, including first-generation buyers, to purchase a home each year.

Former President Donald Trump has touted parts of his housing plan during recent campaign events, promising to open swaths of federal land to housing.

Harris is also expected to announce a proposal to end the housing crisis by building three million new units, providing tax incentives to homebuilders that prioritize “starter homes” aimed at first-time homebuyers and creating a $40 billion innovation fund to encourage local governments to build housing, according to the campaign.

Harris’ economic agenda also includes assistance for renters, including expanded rental assistance for struggling Americans and eliminating tax breaks for Wall Street investors and corporate landlords, according to the campaign.

Several of Harris’ housing policies expand on similar plans that President Joe Biden’s administration has tried to push through in recent years, including rent caps and assistance for first-time home buyers.

Friday’s rally comes at a key time in the race as Harris surges in the polls, particularly on the economy — an area where Democrats have historically struggled.