Vice President Kamala Harris’ campaign has unveiled a new scheme to facilitate home building and home purchases with hundreds of billions of dollars of subsidies, including a $25,000 first-time homebuyer subsidy, said by the campaign to cost $100 billion to facilitate 1 million first-time home purchases a year over the next four years.
Additionally, Harris wants to expand homebuilder tax credits to facilitate construction of an additional 3 million new units over that time.
Similar incentives are already used by Congress via the Department of Housing and Urban Development and the Department of Treasury to facilitate home and apartment construction and renovation, including $3.3 billion of community development block grants, but what Harris is proposing is much larger.
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