Kamala campaign reveals plan for 28% tax rate for American corporations

Vice President Kamala Harris is planning an increase in the corporate income tax rate to 28 percent if she is elected come November. A Harris campaign representative revealed the plan for the tax increase this week.

Harris campaign spokesman James Singer told NBC News that Harris will be pushing to increase the corporate income tax rate from 21 to 28 percent if she is elected in 2024 and called it a way to "ensure billionaires and big corporations pay their fair share."

Singer said that the increased tax rate would be a "fiscally responsible way to put money back in the pockets of working people" and added in an email to the outlet that “Kamala Harris will focus on creating an opportunity economy for the middle class."

Harris was previously in favor of increasing the corporate tax rate back to 35 percent instead of 28 percent during her failed presidential bid in 2020, as the outlet reports. Trump slashed the tax rate from 35 percent down to 21 percent during his tenure as president.

Republicans in Congress will be sure to object to the tax increases, and Harris may need to have the support of the House and Senate in order to pass such a measure. Trump recently said that if Harris is elected, she would move to raise the corporate tax rate and that it would “destroy the economy.”

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