Democrat presidential nominee Vice President Kamala Harriss economic plan would increase taxes by $5 trillion over ten years, according to Americans for Tax Reform (ATR).
Harriss campaign announced an enormous economic package on Monday that would undo former President Donald Trumps tax cuts, claiming it would be part of a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.
Trumps Tax Cuts and Jobs Act slashed the corporate tax rate from 35 to 21 percent, lowered income tax rates, and doubled the standard deduction.
Harris wants to raise the corporate tax rate to 28 percent, saying it would reduce the deficit by $1 trillion over a decade.