AAF: Say NO to Kamala Harris and Double Down on Tax Cuts

For more information, please contact AAF Policy Director John Shelton at jshelton@advancingamericanfreedom.com

AAF: Say NO to Kamala Harris and Double Down on Tax Cuts Vice President Kamala Harris’ tax plan is even more extreme than President Biden’s disastrous policies. During her failed run for the White House in 2020, Kamala Harris repeatedly called for the complete repeal of the Tax Cuts and Jobs Act of 2017. Conservatives must not only reject the Kamala Harris’ plan but go on offense to champion tax cuts that give Americans relief from the failed policies of the Biden-Harris Administration. Kamala Harris’ Tax Plan Benefits China: Americans want to bring back industries to America. But the Harris tax plan would handicap American industry by making our tax code uncompetitive, advantaging China, and pushing American businesses back overseas. Here are the key features of Kamala Harris’ business tax plan:

• Raise the business tax rate from 21% to 35%. • American business taxes would increase by 67%. • Americans would have the highest business tax rate in the world. • Taxes on American businesses would be 40% higher than in China. • Business taxes under Harris would be 25% higher than even Biden proposed. To stop the Chinese Communist Party’s quest for global dominance, America must become the world leader in global supply chains. America cannot lead the world if we follow Kamala Harris’ plan to punish American businesses and economically surrender to China. Stop Punishing Job Creators & End Corporate Welfare Reports indicate that some Republicans support higher corporate tax rates as a way to punish companies for their misguided support of the woke ideology. Raising corporate tax rates will haphazardly hit all American workers and businesses, rather than targeting those that have engaged in wicked & woke cronyism. Rather than punishing U.S. workers, Congress should follow a three-step plan to end partisan corporate welfare:

1. Immediately repeal all Biden-era rules that encourage corporate DEI. 2. Repeal the Green New Deal and programs that subsidize favored companies. 3. Eliminate tax expenditures that give tax carveouts to woke businesses. Lower Taxes to the Originally Proposed Trump-Pence Levels The first Trump-Pence tax reform proposal envisioned a corporate tax rate of 15%. In 2023, former Vice President Pence once again proposed cutting the business rate from 21% to 15% in order to spur growth and undercut Chinese state subsidies. At the RNC, Donald Trump continued to call for more tax cuts. Conservatives on the Hill should also seize on this issue and support a lower business tax rate to spur domestic job growth and higher wages. BOTTOM LINE: The American people deserve to know if Kamala Harris supports American workers or Chinese Communist Party controlled companies.