Harris proposes major corporate tax hike, reversing Trump era cuts

CHICAGO - As the Democratic National Convention kicked off on Monday, Vice President Kamala Harris called for upping the corporate tax rate as the party's presidential nominee unveiled her first big ticket proposal to raise revenues.

The Harris campaign confirmed to Fox News that the vice president is proposing to raise the rate major businesses pay from 21% to 28%, describing it as "a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share."

"As President, Kamala Harris will focus on creating an opportunity economy for the middle class that advances their economic security, stability, and dignity," campaign spokesman James Singer added in a statement.

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The move, if it became law, would likely raise hundreds of billions of dollars, according to projections from the nonpartisan Congressional Budget Office. 

The announcement comes as Harris is beginning to offer details on how she'd govern if she is elected president, and how she would try to pay for expensive ideas she proposed last week, including expanding the child tax credit and easing the cost of homeownership and lowering medical debt.

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The announcement would also constitute a major rollback of the 2017 tax cuts - the signature domestic legislation passed during former President Trump's administration - which dramatically cut the corporate tax rate from 35% down to 21%.

Trump has pledged to cut taxes if he returns to the White House. 

"Our plan will massively cut taxes," Trump said at a campaign event Monday at a factory in York, Pennsylvania. "I gave you the best tax cut in history."

And he signaled that he would aim to use tariffs against competitors and allies alike by pushing for legislation called the "Trump Reciprocal Trade Act." 

But the Harris campaign charges that Trump's proposed tariffs on overseas goods "would punish middle and working class Americans, so he can cut taxes for the richest Americans."

Portions of the Trump tax cuts sunset at the end of 2025, which will spur a major debate next year over what parts should be extended.

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Trump campaign senior adviser Jason Miller pointed to the Harris proposal in a social media post, writing "bye-bye economic growth, new hirings, investment, expansion, onshoring, and so much more!"

The new stance by Harris also aligns her with the most recent federal budget proposal by President Biden, which also proposes boosting the corporate tax rate to 28%.

Harris replaced Biden four weeks ago at the top of the Democrats' 2024 ticket, after Biden announced he was ending his re-election bid and supporting his vice president as his successor.

But veteran Republican consultant and strategist Alex Castellanos told Fox News such proposals will do Harris no favors at the voting booth.

"She does not need the spotlight on her or her polices. She's been two sides of too many issues. And if she supports raising the corporate tax, that's a job killer. You don't need to hurt working people directly. All you need to do is hurt the companies working people work for," Castellanos argued.

Fox News' Emily Reynolds contributed to this report

Get the latest updates from the 2024 campaign trail, exclusive interviews and more at our Fox News Digital election hub.

Chicago DNC protests to put Illinois' no-cash-bail law to the ultimate test

Anti-Israel agitators are expected to descend upon the Democratic National Convention this week in Chicago, where authorities anticipate potentially hundreds of arrests, putting the state's no-cash-bail law to the ultimate test.

Last year, Illinois enacted its Pretrial Fairness Act (PFA), eliminating cash bail, which critics say is discriminatory toward low-income offenders because it is more difficult for them to post high bonds than wealthy offenders.

Cook County Chief Judge Tim Evans said the county has made several temporary changes to ensure a smooth judicial process in the event of mass protests and arrests. 

"We have been meeting for weeks with more than 50 people from county, city, state, and federal agencies to prepare for the possibility of multiple arrests. We want to make sure the police are able to focus on providing security and that the rights of arrested individuals are scrupulously respected," Judge Evans said in a July 24 statement. "We thank our fellow government officials and our court staff for their continued cooperation in this important endeavor."

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Changes include additional staffing at a temporary court facility. Dozens of Cook County judges have cleared their non-essential proceedings in their civil and criminal court calendars this week to make room for any cases coming out of the protests.

The temporary court location on West Belmont Avenue will be open from 8 a.m. to midnight through Aug. 31 and have 57 judges trained on PFA requirements, Cook County said in a press release.

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Protesters arrested outside the convention may not even need to face a judge under the PFA, which allows for certain suspects to be cited and released.

"There are two ways that people can be released at Belmont and Western: one will be by certificates, for example, with a date to return if it's not a very serious allegation. If it is a very serious allegation, the first appearance has to take place there, in person, and … our judges will have to be there. They'll have to make a decision as to whether the person can be released into the community or detained," Evans told WTTW.

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Loyola Chicago's Center for Criminal Justice has been tracking the impact of the PFA since it took effect in September 2023. So far, researchers have found that average daily populations and jail bookings have decreased slightly more than typical expectations before the law was enacted.

"However, these patterns varied across individual counties and county types. In some counties, the decrease in bookings and pretrial jail ADPs seen after the implementation of the PFA was within what would have been expected given the seasonality of crime, arrests, and pretrial jail admissions, while in other counties it was larger than what would have been normally expected. It is likely that the degree to which pretrial jail bookings and pretrial jail populations changed after the PFA reflects specific local practices and implementation of the PFA," researchers note on the Loyola Criminal Justice Center website.

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