Kamala Harris Proposes Corporate Tax Increase Amid Election Battle

Kamala Harris, U.S. Vice President, announces plans to raise the corporate tax rate to 28% if victorious in the presidential election against Donald Trump. This move is aimed at ensuring that billionaires and big corporations contribute fairly. Harris also emphasizes not raising taxes on earnings below $400,000 and proposes economic measures for broader American benefit.

U.S. Vice President Kamala Harris has announced plans to raise the corporate tax rate to 28% from the current 21% should she win the November 5 election against her Republican opponent, Donald Trump, her campaign disclosed on Monday.

Harris campaign spokesman, James Singer, emphasized that the tax hike is part of a 'fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.'

Former President Donald Trump had previously reduced the corporate tax rate to 21% from 35% during his term, and promised to make the cuts permanent. Harris, aligning with President Joe Biden, has guaranteed not to increase taxes on individuals earning $400,000 or less annually.

In a recent economic policy speech, Harris outlined additional proposals including a ban on price gouging by grocers, tax cuts for most Americans, and the construction of more affordable housing, forming part of the 'opportunity economy' she envisions if elected to the White House.