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Kamala Harris plans to raise US corporate tax rate to 28%

Move designed to increase government revenue would face opposition from business and Republicans

Kamala Harris is aiming to increase the US corporate tax rate to 28 per cent if she wins the White House in November, a move designed to raise government revenues from corporate America that is likely to draw criticism from business.

Harris’s presidential campaign said on Monday that she planned to stick by a proposal put forward by President Joe Biden in recent years to bring the corporate tax rate up from 21 per cent to 28 per cent.

The statement comes as the vice-president fleshes out her economic plans ahead of formally becoming the Democratic presidential nominee at the party’s convention in Chicago this week.

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