Harris Proposes Raising Corporate Tax Rate to 28% for Revenue and Policy Funding
Publication Time:2024-08-20 04:08:06
NBC News reported that Democratic presidential candidate Harris has put forward a major policy proposal to increase the corporate tax rate to 28%. The move aims to boost government income to support her high-cost initiatives. James Singer, Harris's campaign spokesperson, stated that raising the corporate tax rate is a way to achieve fiscal responsibility, allowing funds to be directly returned to the middle class while ensuring billionaires and large corporations bear fair taxes. If this policy were implemented, it is expected to generate billions of dollars in fiscal resources. This action will also repeal most of the legislation signed by former President Donald Trump during his term, which reduced the corporate tax rate from 35% to 21%. Meanwhile, Trump recently claimed that if he were elected president, he would pursue further tax cuts, including reducing the corporate tax rate.
Corporate Tax Rate
Revenue Generation
Government Taxes
Policy Funding