Kamala Harris unveils major tax plan aiming at corporate giants

Democratic candidate for U.S. president Kamala Harris proposes increasing the corporate income tax from 21% to 28%, announced her campaign spokesperson, James Singer.

Harris's representative emphasized that the tax increase, in case of victory in the November elections, would be a "fiscally responsible way of putting money back into the pockets of working people and ensuring that billionaires and large corporations pay their fair share."

Reuters reminded that during the presidency of Donald Trump, who will be Harris's opponent in the fall elections, the corporate tax was reduced from 35% to 21%, along with other tax breaks, which are set to expire next year. Trump announced that he would make the cuts permanent.

Harris vowed to uphold President Joe Biden's promise not to raise taxes on individuals earning $400,000 annually or less.

Last week, the vice president presented her economic policy proposals. She announced tax cuts for most Americans, a prohibition on price gouging for food products, and the construction of affordable housing.

U.S. Vice President Kamala Harris made a surprise appearance on stage on Monday at the first day of the Democratic convention in Chicago. The party's candidate thanked Biden for his "historic leadership."

In a brief speech, which was not previously announced and was not on the convention's program, Harris took the stage and highlighted Biden's contributions to the country.

Joe, we thank you for yKour historic leadership and your lifetime of service to our country. We are forever grateful to you," Harris said, to which the crowd responded by chanting "thank you Joe."

Harris's main speech is scheduled for the last day of the convention, Thursday. At that time, she is also expected to officially accept the party's nomination. The highlight of Monday's program is a speech by Biden himself, who is set to endorse Harris by passing the party leadership to her.

Alongside Harris, the speakers on Monday included former U.S. Secretary of State Hillary Clinton and First Lady Jill Biden. Celebrities also made appearances, including musicians Jason Isbell and James Taylor. Olympic basketball team coach and multiple NBA champion Steve Kerr gave a speech supporting Harris and criticizing Republican candidate Donald Trump.

Harris was also endorsed from the stage by Shawn Fain, head of an important automotive workers' union, who stated that "Kamala is one of them (union members)," while Donald Trump is a "strikebreaker" and "a lapdog of the billionaire class."