Vice President Kamala Harris is looking to raise the corporate tax rate to 28% if elected president, NBC News reported on Monday.
The federal corporate tax rate in the U.S. is currently 21%, as enshrined in former President Donald Trump’s 2017 Tax Cuts and Jobs Act. But Harris seeks to move the tax rate to 28% to draw in funding for plans she would have as president, mirroring a proposal made by President Joe Biden in March, according to NBC.
A 28% corporate tax rate would be “a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share,” Harris campaign spokesperson James Singer told NBC in a statement on Monday. “As President, Kamala Harris will focus on creating an opportunity economy for the middle class that advances their economic security, stability, and…
