Democratic presidential nominee Kamala Harris is currently leading in crucial swing states in opinion polls ahead of the upcoming election. However, experts warn that she may face significant challenges in passing economic legislation should she become the next president. The year 2025 will see several key economic legislations expiring, including tax cuts and the nation’s debt limit. The outcome will depend on the results of the elections for both houses of Congress.
There are major pieces of legislation, such as tax cuts under the Tax Cuts and Jobs Act, that are set to expire at the end of next year. Harris will have to navigate negotiations with a potentially Republican-controlled Senate to pass any legislation. Additionally, there will be discussions on the US government’s debt limit and avoiding a government shutdown.
Harris’s economic policies are relatively unknown, and she may have to pivot towards the center to appeal to moderate voters. While her previous statements may be used against her by the Trump campaign, economists believe that she will need to adjust her stance to appeal to a broader audience. Inflation and potential escalation of conflicts in the Middle East could be challenges for her economic agenda.
Harris may focus on addressing issues like rising house prices, rent control, and tax incentives for builders to construct more housing units. She may also need to tackle trade issues, although economists caution against drastic measures like across-the-board tariffs. Overall, Harris’s economic policies and ability to pass legislation will be closely watched in the lead-up to the election.
Source
Photo credit www.aljazeera.com