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Kamala Harris Proposes Raising US Corporate Tax to 28%


Tue 20 Aug 2024 | 09:32 PM
Taarek Refaat

Kamala Harris aims to raise the US corporate tax rate to 28% from 21% if she wins the presidential race in November, in a move aimed at increasing government revenue.

Her corporate tax plan stands in sharp contrast to that of her rival Trump, who proposes cutting the tax to 15%.

Harris's economic plan includes a focus on improving the purchasing power of the middle class, confronting companies that inflate prices, in addition to building 3 million new homes, and providing assistance of up to $25,000 for people buying their first home.

President Joe Biden concluded the first day of the Democratic National Convention in Chicago with a speech that was considered a passing of the torch to Kamala Harris. Biden stressed the importance of preserving his country's democracy, highlighting his achievements during his presidency of the United States.