(Reuters) - Forthcoming regulations will remove medical debt from the credit reports of tens of millions of Americans, U.S. Vice President Kamala Harris announced Tuesday.

The proposed regulations come as Joe Biden's administration works to tout its economic policies ahead of November's elections. Economic stimulus funds are also currently being used to eliminate $7 billion medical debts held by nearly 3 million Americans, according to the Vice President's office.

"Medical debt makes it more difficult for millions of Americans to be approved for a car loan, a home loan or small business loans, all of which in turn makes it more difficult to just get by," Harris told reporters.