According to the organization Americans For Tax Reform, Kamala Harris wants to raise corporate income tax rates. Vice President Kamala Harris backs hiking the current 21% federal corporate income tax rate to 35%, higher than socialist Venezuela’s 34% rate.

Vice President Harris’ plan is also significantly higher than President Biden’s proposed plan to hike the corporate rate to 28%. The Harris 35% rate would saddle America with one of the highest corporate income tax rates in the world, ten points higher than Communist China and tied with communist Cuba.

After adding state corporate income taxes, the combined federal-state rate under Harris amounts to about 39%, sticking American employers with a higher tax burden than our competitors and adversaries.

During her previous presidential campaign, then candidate Harris told members of an Iowa roundtable that the corporate tax rate has “got to” be increased.

Harris said: “We’ve got to increase the corporate tax rate.” Harris’ plan for a 35% corporate rate is in line with her repeated threats to fully repeal the 2017 Trump tax cuts. This means a return to a 35% corporate tax rate under a President Kamala Harris.

American workers will bear the brunt of Harris’ corporate tax increase.
Read More