Additional Coverage:
- What Kamala Harris says her tax plans mean for voters (newsbreak.com)
Harris Proposes Tax Hike for Wealthy to Fund Economic Plan
Vice President Kamala Harris is proposing a tax increase on high-income earners to fund her economic plan, which includes expanding the child tax credit and offering tax breaks for first-time home buyers and small businesses.
Plan Raises Deficit Concerns
The plan is estimated to increase the federal deficit by over $3 trillion, while the Trump tax plan would add $7.5 trillion. Harris defends her plan, claiming it would strengthen the economy.
Harris: Invest in Small Businesses, Middle Class
Harris emphasizes the importance of small businesses and argues that investing in them benefits the middle class and the economy as a whole.
Taxing the Rich, Funding the Plan
To finance her plan, Harris would raise taxes on high earners, arguing that it’s unfair for teachers and firefighters to pay more than billionaires and corporations.
Congressional Approval Needed
Harris will need to secure congressional approval for her plan, which would require increasing the corporate tax rate from 21% to 28%.
Economy’s Mixed Signals
Despite positive economic indicators such as job growth and interest rate cuts, many Americans are still feeling the pinch from high grocery prices.
Harris’ Response to High Prices
Harris acknowledges the issue of high prices and proposes a federal ban on price gouging for food and groceries.
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- What Kamala Harris says her tax plans mean for voters (newsbreak.com)