Kamala Harris on Tax Reform Democratic candidate for President (withdrawn); California Senator

I will deliver tax cuts to working people and middle class

As president, I will fight to help home buyers with your down payment, take on the companies that are jacking up rents and build millions of new homes. For years, we have heard excuses about why America can't build enough housing, enough with the excuses. I'm going to cut the red tape and work with the private sector and local governments to speed up building and get it done.

Give startup businesses a $50,000 tax deduction

HARRIS: Clearly, I am not Joe Biden, and I am certainly not Donald Trump. And what I do offer is a new generation of leadership for our country. Let's talk about our plans. And let's compare the plans. I have a plan to give startup businesses $50,000 tax deduction, to pursue their ambitions, their innovation, their ideas, their hard work. I have a plan. $6,000 for young families for the first year of your child's life. To help you in that most critical stage of your child's development. I have a plan that is about allowing people to be able to pursue what has been fleeting in terms of the American dream by offering help with down payment of $25,000, down payment assistance for first-time home buyers.

28% tax on long term capitals gains for $1M per year or more

LIFT the Middle Class: supercharge earned-income tax credit

That sounds a lot like the monthly installments the IRS paid to parents in 2021, when Democrats boosted the child tax credit under the pandemic-era American Rescue Plan. The Harris proposal would have been on top of the child tax credit and the earned-income tax credit. It would have been expensive, costing approximately $3.1 trillion.

The LIFT act amounted to a "supercharged" earned-income tax credit, [one anlayst] said. But it's also "ancient history." The Democrats' focus now could be on the child tax credit in the wake of the 2021 increase and its looming decrease to $1,000 from $2,000.

We won't raise taxes on anyone earning less than $400,000

PENCE: [Biden] said he's going to repeal the Trump tax cuts. Joe Biden has said it twice in the debate last week that he's going to repeal the Trump tax cuts. That was tax cuts that gave the average working family $2,000 in a tax break every single year.

Americans deserve transparency on president's taxes

Higher tax on wealthy to fund Medicare-for-All & teacher pay

Tax credits for middle class & working families

Tax relief for middle class; repeal 2017 tax cuts

Tax break for people unable to pay unexpected expense

Monthly tax credit would provide base income

LIFT Act: $500 monthly tax credit for eligible middle class

Payments to needy, not tax breaks for the rich

Harris is offering as much as $3,000 a year for a single person or $6,000 a year for a married couple, on top of existing tax and transfer programs, disbursed either as a lump-sum tax refund or as a monthly payment. Working families making less than $100,000 a year would qualify, including those making close to nothing. As many as 80 million Americans would benefit, Harris's office has estimated, with the Center on Budget and Policy Priorities calculating that the proposal would lift 9 million people out of poverty, including nearly 3 million kids.

Expand EITC, Child Tax Credit, and R&D Tax Credit

• Expand Pro-Work Tax Credits: Together the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) help keep millions of families from falling into poverty and enable many parents to afford childcare, which allows them to work and provide for their families. Kamala supports expanding these credits and the American Opportunity Tax Credit, which helps pay for college.
• Research & Development Tax Credit: In 2014, Congress let the Research and Development Tax Credits expire, a key tool that helps spur innovation in the private sector. But despite bipartisan support, for months Washington failed to extend it. Kamala supports expanding the research and development tax credit and rewarding businesses that invest in science and technology research.