Harris Seeks Higher Corporate Taxes, Reversing Trump’s Cuts

(LibertySociety.com) – The presidential campaign of US Vice President Kamala Harris said in an August 19 statement that she was seeking higher corporate taxis and reverse the tax cuts ordered by former President Donald Trump during his administration. In the statement, Harris’ campaign spokesman James Singer explained that the Democratic nominee wants to raise major businesses’ tax rate from 21 percent to 28 percent.

Singer said that Harris believe that would be the most “responsible way” to make “working people” in the country get more money while making big corporations and billionaires pay a “fair share.” The campaign spokesman added that Harris’ main goal is to create a stable economy for the American middle class so they can enhance their “dignity,” stability, and “economic security.”

Political analysts explained that if that proposal eventually becomes law, some projections from the Congressional Budget Office showed that it would raise over $200 billion. The statement was published at a time when Harris had been starting to offer some details on the way she would govern if she wins the 2024 presidential election against Republican nominee Donald Trump. So far, the vice president has publicly said that some of the main goals of her administration would be to lower the medical debt, ease homeownership costs, and expand the child tax credit.

Since announcing his presidential bid, Trump has been claiming that the person who ended up becoming the Democratic nominee, would try to raise taxes. Meanwhile, he has promised to cut taxes if he becomes president again, and even promised during an August 18 campaign event in York, Pennsylvania, that he would execute the biggest tax cut in the history of the United States.

During the event, the conservative leader also told the crowd that he would protect the American working and middle class by using tariffs against some US allies and rivals from around the world. To make it happen, he explained he would push for the Trump Reciprocal Trade Act bill.