According to extensive reports from authoritative foreign media such as Reuters and NBC, U.S. Vice President Harris, as a strong contender for the Democratic presidential candidate, has clearly proposed a policy proposal to increase the corporate tax rate to 28%. This proposal aims to promote economic justice and improve people's well-being through fiscal means.

On August 19, James Singer, a spokesman for the Harris campaign, officially announced this policy, emphasizing that setting the corporate tax rate at 28% is “a responsible fiscal management strategy that aims to Return more funds to hard-working working people, and ensure that the wealthy and large corporations can shoulder their due tax responsibilities." Singer further elaborated that Harris is committed to building an economy that creates more opportunities for the middle class and enhances economic security. sense, stability and dignity.

If this policy is successfully implemented, it is expected to raise hundreds of billions of dollars in fiscal revenue for the U.S. government. The nonpartisan Congressional Budget Office estimates that a 1-percentage-point increase in the corporate tax rate could raise about $100 billion over ten years. The move would also significantly reverse corporate tax cuts under the Trump administration, which slashed the corporate tax rate from 35% to 21%.

However, any adjustments to U.S. tax laws require congressional approval, which undoubtedly adds variables to Harris' tax reform plan. It is worth noting that the 28% tax rate proposed by Harris this time is lower than the 35% target she proposed when she ran for president in 2020, and it coincides with the tax rate proposal in the current President Biden's budget plan. However, considering the Republican Party's consistent opposition, if Harris wants to push this bill through Congress, she may need to rely on the Democratic Party's dominant position in the House and Senate.

At the same time, Trump responded tit-for-tat, reiterating his promise to further cut taxes if re-elected, especially tax cuts for businesses. Trump warned that if the Democrats do not take action before the tax cuts expire, they will face tremendous pressure from all sides and may even "destroy the economy."

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