Vice President Kamala Harris wants to raise taxes on corporations. A spokesperson for the Harris-Walz campaign confirmed that the Democratic nominee for president is proposing a 28% corporate tax rate.
The rate was cut from 35% to 21% under the Trump administration.
“As President, Kamala Harris will focus on creating an opportunity economy for the middle class that advances their economic security, stability, and dignity," said campaign spokesperson James Singer.
The proposed rate increase is part of Harris' broader economic plan, which the campaign says will "put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”
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On Friday, Harris proposed a federal ban on price gouging for food items, a $25,000 down payment assistance program and expanding the child tax credit.
Republicans have criticized Harris' plans, calling them a "big mistake" as the nation is dealing with inflation.
Former President Donald Trump has also unveiled a slew of economic policies he would like to implement if he were to become president again.
He has promised no Social Security taxes for seniors and an extension of his 2017 tax cuts that are set to expire in 2025.
One area where Harris and Trump appear to agree is on the issue of tips. Both are in favor of eliminating taxes on tips for service workers.
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