WASHINGTON — Facing demands to present her own plans, Vice President Kamala Harris will announce her economic strategy at a policy event this Friday in North Carolina.

Harris aims to introduce a federal ban on price gouging for food and groceries, alongside measures to reduce prescription drug costs. Additionally, her campaign recently disclosed more details about her approach to addressing housing affordability.

The proposed plan suggests offering first-time homebuyers up to $25,000 in down payment aid, surpassing the previous $10,000 tax credit proposed by the Biden administration. This initiative is expected to assist over 4 million first-time buyers in purchasing homes.

She will also propose a tax incentive for homebuilders to construct and sell affordable starter homes and establish a $40 billion fund to assist local governments in tackling housing shortages.

Since taking over the Democratic ticket in late July, Harris has emphasized that her administration would focus on reducing expenses for middle-class families. However, specific details had been lacking in the following weeks.

“The cost of living remains too high, with major corporations increasing these expenses daily. That’s why we are challenging special interests and working to lower the costs of housing, gasoline, groceries, and other daily necessities,” Harris stated at a campaign rally last week in Nevada.

The limited information has opened the door for her Republican challenger, former President Donald Trump, to comment. At a rally on Wednesday, he baselessly claimed that Harris could trigger a “depression similar to 1929,” suggesting that under her presidency, Americans’ financial situations would not recover, despite new data indicating a decrease in inflation rates.

Inflation rose by 2.9 percent in July, marking the slowest increase since early 2021.

Harris’ campaign announced on Friday that she supports making the Child Tax Credit permanent, increasing it to $3,600 per child, and reducing taxes for low-income workers without children by $1,500. Families with newborns would qualify for a $6,000 tax credit under her proposals.

Additionally, she intends to establish price caps on prescription medications—capping costs for insulin at $35 per month and setting annual out-of-pocket expenses at $2,000. This proposal aims to expand upon a program for seniors that Harris helped to pass in 2021.

A former California attorney general, Harris is leveraging her legal experience to shape her agenda.

Her campaign states that she will enhance enforcement of the proposed anti-price gouging regulations by empowering state attorneys general and the Federal Trade Commission to investigate and impose penalties on companies. She will also advocate for governmental intervention to prevent mergers that might lead to higher grocery prices.

Moreover, Harris is against new tariffs that could cause prices for everyday goods to rise and opposes tax reductions for wealthy individuals. She appeared alongside President Joe Biden at a Maryland event on Thursday, where he announced that Medicare had successfully negotiated lower drug prices for treatments related to cancer, heart disease, diabetes, and blood clots.