Vice President Kamala Harris has proposed raising the corporate tax rate to 28% as a key revenue-generating measure to fund her policy initiatives if she becomes president. Her campaign describes this as a fiscally responsible way to support middle-class economic security while ensuring that billionaires and corporations pay their fair share. The proposal, which would generate hundreds of billions of dollars over a decade, partially reverses the tax cuts enacted under former President Donald Trump. The plan aligns with President Biden's recent budget but will likely face opposition from Republicans.
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00:00It's Benzinga, and here's what's on the block.
00:02Vice President Kamala Harris has proposed raising the corporate tax rate to 28% as a
00:07key revenue-generating measure to fund her policy initiatives if she becomes president.
00:12Her campaign describes this as a fiscally responsible way to support middle-class economic
00:16security while ensuring that billionaires and corporations pay their fair share.
00:21The proposal, which would generate hundreds of billions of dollars over a decade, partially
00:25reverses the tax cuts enacted under former President Donald Trump.
00:29The plan aligns with President Biden's recent budget, but is likely to face opposition from
00:34Republicans.
00:35For all things money, visit Benzinga.com.