Harris Proposes Raising Corporate Tax Rate to 28 Percent

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.

Singer says Harris is in favor of rate rise because it’s the most “fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”

“As president, Kamala Harris will focus on creating an opportunity economy for the middle class that advances their economic security, stability, and dignity,” he said.

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