Vice President Kamala Harris plans to improve taxes on rich people and massive companies as a part of her financial plan if elected in November, she stated in a brand new interview.
Since changing into the Democratic Party's official nominee for president, Harris has stated she's going to present $25,000 housing subsidies for first-generation home buyers, implement $100 billion in tax credit for the manufacturing sector and improve small enterprise tax credit by tenfold.
“My plan is about saying that when you invest in small businesses, you invest in the middle class, and you strengthen America’s economy. Small businesses are part of the backbone of America’s economy,” Harris instructed “60 Minutes” in a clip launched on Monday.
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Vice President Kamala Harris made it clear on Monday that she plans to improve taxes on rich people and companies as a part of her financial plan if elected in November. (Melina Mara/The Washington Post through Getty Images)
“60 Minutes” correspondent Bill Whitaker reminded Harris that the query was “how are you going to pay for it?”
Harris rapidly stated that rich Americans would foot the invoice.
“I’m going to make sure that the richest among us, who can afford it, pay their fair share in taxes,” Harris stated.
“It is not right that teachers and nurses and firefighters are paying a higher tax rate than billionaires and the biggest corporations,” Harris continued. “I plan on making that fair.”
Whitaker shot again, “But we’re dealing with the real world here,” and requested how that plan would get via Congress.
“You know, when you talk, quietly, with a lot of folks in Congress, they know exactly what I am talking about,” Harris stated.
“Cause their constituents know exactly what I’m talking about,” Harris added. “Their constituents are those firefighters and teachers and nurses.”
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Vice President Kamala Harris joined “60 Minutes” for an interview that may air in full on Monday. (Screenshot/CBS)
Harris' opponent, former President Trump, was invited to seem on “60 Minutes” as properly for its election interview particular, however he declined.
Last month, Harris unveiled new small-business tax proposals final week aimed toward decreasing the price burden associated to beginning a brand new enterprise. Among the proposals was a considerable improve in the usual tax deduction for small-business startup prices, from $5,000 to $50,000. “It’s essentially a tax cut for starting a small business,” the vp stated throughout a stump speech saying the brand new proposal. “We're going to help more small businesses and innovators get off the ground.”
Harris has concurrently expressed assist for elevating marginal tax charges for each companies and people, which conservative economists argued would work to diminish the profit acquired by the tenfold improve within the startup deduction.
In addition to Harris' new tax proposals for small companies, she additionally laid out her plan this week for taxing capital gains. She needs to improve it to 33%, whereas Biden reportedly needs the present fee, which is at 23.8%, to be practically doubled, according to The Wall Street Journal.
Harris has additionally advised assist for rising authorities spending to assist households' little one care wants, whereas additionally increasing the kid tax credit score, amongst different proposals.
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Fox News Digital’s Alec Schemmel contributed to this report.
