Harris Proposes Raising Corporate Tax Rate to 28 Percent

The same policy was put forward by President Joe Biden in his administration’s fiscal year 2025 budget.

Democratic presidential nominee Vice President Kamala Harris speaks during the first day of the Democratic National Convention in Chicago on Aug. 19, 2024. Madalina Vasiliu/The Epoch Times

Democratic Presidential candidate Kamala Harris is proposing to increase the corporate tax rate as part of her economic agenda if she wins the presidency in November.

Harris campaign spokesperson James Singer confirmed in a statement on Aug. 19 that Harris is backing an increase in the corporate tax rate from 21 percent, to 28 percent, the same policy put forward by President Joe Biden in his administration’s fiscal year 2025 budget. Changes to the U.S. tax code require approval by Congress before they can be enacted.