Vice President Kamala Harris unveiled a tax proposal aiming for nearly $5 trillion in revenue increases over a decade, focusing on high-income earners and major corporations.
Harris's plan would avoid tax hikes for anyone earning less than $400,000, directing significant increases at the wealthiest Americans, which could reshape national fiscal policy.
The proposal includes raising the corporate tax rate from 21% to 28%, a change estimated to yield $1.3 trillion in new revenue over the next decade.
As upcoming tax cuts introduced by Trump are set to expire post-2025, the next administration will face urgent decisions to reform the tax code amidst evolving economic needs.
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