LITTLE ROCK, AR - Rep. French Hill (AR-02) released the following statement in response to Kamala Harris' catastrophic plan she laid out for our economy, including housing proposals.

“Kamala Harris claims her economic agenda represents the ‘future’ and a ‘new path forward,’ but, in fact, her proposals are old, failed economically illiterate duds like price controls we’ve seen from President Nixon to President Biden. Her economic vision is just warmed up Biden leftovers.

“Instead of freezing prices and blaming corporations for inflation caused by Bidenomics and Kamala Harris herself, let’s instead unleash the American economy in a way that bolsters a dominant ‘all of the above’ energy strategy; cuts regulatory burdens at the local, state, and federal levels to unleash American productivity and innovation; and maintains and enhances tax policies for families and small businesses.

“Regarding housing specifically, our nation already has significant existing state and federal incentives for first time homebuyers to obtain down payment assistance and attractive mortgage terms. What’s really crushing our first time buyers - and all other American families - is the punishing impact of the Biden-Harris inflation, which has nearly doubled mortgage interest rates since they took office. Higher rates mean higher mortgage payments and tougher down payments making the reality of achieving homeownership much more difficult. Harris’ mandates and price controls are going to make housing more expensive – not less.

“It’s well past time we return economic sanity to our nation by implementing policies that we know work instead of following ones that we know don’t. The American people have suffered for far too long and deserve financial security in their everyday lives.”