I’m an Undecided Voter: 3 Economic Policies of Kamala Harris I Like, and 3 I Don’t
Written by
Andrew Lisa
Edited by
Gary Dudak
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A rising tide of aging baby boomers threatens to wash over the U.S. economy. According to an AARP/S&P Global study, the number of 65-plus adults will surpass the population of children by 2030.
Already, approximately 50 million spouses, children, relatives, friends and neighbors care for aging loved ones — and that number is sure to grow in the coming years. The associated emotional toll, financial strain and lost time robs them — and the larger economy — of productivity and profit.
For one undecided voter, the growing crisis is the most pressing challenge of our time — and he needs to learn more about Kamala Harris’s policies and proposals before he decides in November.
A Single-Issue Voter Has Questions, Concerns and Cautious Optimism
Neal K. Shah, founder and CEO of CareYaya Health Technologies, works to empower family caregivers and expand the caregiver workforce by providing students with valuable experience that doubles their grad school acceptance rates.
His mission statement reads, “CareYaya is launching new applications of artificial intelligence and neurotechnology to help people better manage caregiving, aging and serious illness. Our mission is to empower family caregivers — those who care for an elder parent, a seriously ill spouse, or a child with special needs.”
It’s a wide-open market for anyone dedicated to this painfully overburdened population group.
The AARP study found that 70% of family caregivers report difficulty balancing their careers with their caregiving responsibilities. More than one in four have moved from full-time to part-time work or reduced their hours. Sixteen percent have had to turn down a promotion, another 16% have left the workforce for some time entirely and another 13% have changed employers to fulfill their obligations to their loved ones.
Shah will vote for or against Kamala Harris not based on party or politics, but on how the vice president’s policies could impact this pressing issue.
“Harris brings a fresh perspective, but is she ready to tackle the caregiving crisis?” he said. “That’s the million-dollar question for me and millions of family caregivers.”
Like: Tax Credits Are a Good Start
The Biden-Harris administration has proposed tax credits to ease the financial burden that so many caregivers experience. Harris had indicated that she would carry that proposal into her presidency, which Shah thinks is a good jumping-off point — but only if it’s a smaller piece of a much larger puzzle.
“Harris’s proposed tax credits for family caregivers are a step in the right direction,” he said. “But we need bolder action to address this $600 billion hidden burden that caregiving brings to our economy and millions of families.”
Like: Paid Family Leave Could Change the Landscape
America is one of the only nations in the world that does not require employers to provide paid family leave, which includes paid leave for caregivers. According to the Center for American Progress, the country’s hodgepodge of state laws leaves three out of four Americans without a single paid day off to care for new babies, aging parents or sick, hurt or otherwise struggling loved ones.
According to Voice of America, “As vice president, Harris worked behind the scenes in Congress on Biden’s proposals to establish national paid family leave.” Her running mate, Tim Walz, established statewide paid family leave as the governor of Minnesota.
For Shah, this massive shift could change the game for both struggling caregivers and the economy. “Her emphasis on paid family leave is crucial,” he said, adding that he’s seen “countless families torn between work and caregiving responsibilities.”
Like: Workforce Development Could Relieve the Overburdened
Harris has vowed to grow the economy by incentivizing small businesspeople like Shah — as opposed to large corporations — to innovate, develop and hire. She calls her vision the “opportunity economy,” and Shah thinks it offers at least a good outline for how his industry can expand.
“I’m intrigued by Harris’s focus on workforce development,” he said. “Caregiving could provide meaningful employment for millions if we invest in training and fair wages.”
Dislike: Trepidation Over Government Becoming the Solution
Shah likes Harris’s broader workforce development initiatives because he believes people and entrepreneurs, not government bureaucracy, are best equipped to meet the challenges caregivers are facing.
According to Politico, Harris has dropped so-called Medicare for All from her presidential policy proposals. However, she co-sponsored Senator Bernie Sanders’ universal healthcare legislation as a California senator and put it at the heart of her failed 2020 bid for the White House — and that gives Shah pause.
“Harris’s Medicare for All plan raises questions,” he said. “How will it impact innovative care models and health-tech startups?”
Dislike: Not Enough Focus on Those Being Tugged From Both Ends
According to the Pew Research Center, 54% of Americans in their 40s are struggling to provide for young children and aging parents simultaneously. On this issue, Shah is turned off not by what Harris has said she’ll do, but by what she hasn’t said.
“I’d like to see more specifics from Harris on how she’ll support the ‘sandwich generation’ — those caring for both children and aging parents,” he said.
Dislike: Aspirations are Good, but Where Are the Details?
According to the New York Times, “The ‘care economy’ — a broad set of policies aimed at helping parents and other caregivers — was the great unfinished work of President Biden’s domestic agenda. Vice President Kamala Harris has made it a central aspect of her campaign to succeed him.”
That is welcome news for Shah and those who share his primary concerns. However, without detailed practical information, grand philosophical ambitions are just promises waiting to go unkept.
The Times continues, “Ms. Harris has not yet offered specific proposals on child care, paid family leave or early childhood education. That has surprised some progressive policy experts, and brought flashbacks of the Biden administration’s inability to enact more sweeping policies.”
That will have to change between now and November 5th if Harris is to earn Shah’s vote.
“As a health tech entrepreneur, I’m politically independent,” he said. “This election, I’m laser-focused on finding a leader who puts caregiving front and center. It’s not just a personal issue — it’s an economic imperative for our nation’s future.”
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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