Harris proposes major corporate tax hike, reversing Trump era cuts

Kamala Harris, Vice President of the United States, supports a significant increase in corporate taxes, revoking the tax cuts that were implemented during Donald Trump’s presidency. The move is being discussed as part of the government’s efforts to fund various initiatives, including infrastructure development and increased funding for social programs. The Trump tax cuts had lowered the corporate tax rate from 35% to 21%. As per Harris’s proposition, corporations could potentially see taxes rising again, although the exact rate is yet to be specified. This opinion is consistent with the fiscal policy views of the current Biden administration.