Last week was an interesting one politically. President Joe Biden decided to bow out of the 2024 presidential race, tapping his vice president, Kamala Harris, to run in his place.
Enthusiasm for Harris has been high, and it looks like she’ll get the official nomination when Democrats gather next month in Chicago for their national convention.
As with most second-in-command, Harris has been a behind-the-scenes member of the Biden Administration. She’s now performing more official, and more widely covered, duties, as well as hitting the campaign trail.
But that still leaves many of us wanting to know more about her policy positions and what we could expect if she does become the United States' first woman president.
So, this weekend’s Saturday Shout Outs go to various items that shed some light on those questions, specifically when it comes to taxes. The coverage is from well-known newspapers, business sites, and think tanks, with conservative and liberal stances.
Biden tax policy starting point: The consensus is that Harris will hew closely to Biden’s positions on taxes, notably those that showed up in the president’s prior budget proposals.
That means promises not to raise taxes on anyone making less than $400,000; increase the top tax rate for the top 1 percent of earners; raise the corporate tax rate; tweak capital gains tax law; and expand tax credits, especially for taxpayers with families.
But she is her own person, so Harris could take a side road off the Biden Administration’s current tax route.
And, of course, the expiration of the GOP’s Tax Cuts and Jobs Act individual provisions at the end of 2025 will necessitate a lot of tax maneuvering for whichever candidate wins the White House in November.
Here are some thoughts on the Harris tax possibilities.
Kamala Harris And Her Tax Proposals: A Primer by Nikhita Airi and Margot Crandall-Hollick for Tax Policy Center.
The Harris Tax Plan May Not Be Biden’s Tax Plan by Chris Anstey for Bloomberg.
Here’s what a Kamala Harris administration could mean for your wallet by various reporters for CNBC. Kate Dore’s segment looks at taxes.
Three big questions on Kamala Harris’s tax policies — and how close they are to Biden’s by Andrew Keshner for MarketWatch.
Harris maintains Biden’s pledge not to raise taxes on middle class by Adam Cancryn for Politico.
Harris freshens up her message on the economy as Trump and Republicans go after her on inflation by Josh Boak for the Associated Press (via ABC News).
What Would Harris Do? The Vice President’s Progressive Tax Plans by Joseph J. Thorndike for Tax Notes.
Where Does Kamala Harris Stand on Taxes? by Erica York and Garrett Watson for the Tax Foundation.
A Harris Economy Could Prove More Progressive Than ‘Bidenomics’ by Alan Rappeport for the New York Times.
What Would a Harris Presidency Mean for the Economy? by Jon Kamp, Richard Rubin, and Justin Lahart for the Wall Street Journal.
If you don’t get around to checking out Harris’ tax stances this weekend, that’s okay. There’s still time until we vote. Just bookmark this page, and come back before Nov. 5.
You also might find these items of interest:
- A look at taxes without the Chevron doctrine
- A look at Project 2025, the purported guide to Trump 2.0
- Tax-free tips might not actually help intended workers, and could increase the U.S. deficit
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