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Out-of-Pocket Healthcare Costs Could Change
A Harris presidency could impact your healthcare spending.
More recently, however, she seems to have switched to a more cautious approach to healthcare.
This includes expanding access to private insurance plans and negotiating lower out-of-pocket costs for medication.
So, what do these more moderate healthcare proposals mean for the average consumer?
For one, Harris has proposed a cap on out-of-pocket drug costs of $2,000 a year.
She also has proposed insulin copays capping out at $35 a month.
And she has advocated for cancelingsome medical debt.
However, its also possible for spending on preventive care or other medical expenses to increase.
Back in 2022, the Inflation Reduction Act was passed under President Joe Biden.
This was an omnibus package that included $784 billion in funding for the countrys transition to clean energy.
Harris was the one who cast the deciding vote in getting this package passed.
Harris also historically has backed theGreen New Deal, which prioritizes the use of renewable energy.
For example, theres currently a tax incentive of up to a$7,500on qualifying EVs available through 2032.
In atweet from 2018, Harris posted, Almost all students understand the struggle of student loans.
Its time we make college tuition-free once and for all.
Around that time, Harris also supported the College for All Act of 2017.
This bill would have made public universities and colleges free to anyone earning less than $125,000 a year.
Community colleges would have also become free regardless of income.
While the College for All Act failed, the Biden-Harris administration has continued to supportstudent loan forgivenessand similar initiatives.
This could also lead toincreased optional spendingin these areas.
Its used for essentials like mortgage, rent, and food and for nonessentials.
Harris has plans to raise thefederal minimum wageand exempt tips from federal taxes.
This could theoretically give people more cash to spend on other everyday goods and services.
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