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Evaluating the Harris and Trump Corporate Tax Proposals

Vice President Kamala Harris proposes raising the corporate tax rate to 28% from its current 21%, while former President Donald Trump proposes lowering it to 15%. The IMPA model projects that the Harris proposal will modestly increase GDP and government revenue. In contrast, it projects that the Trump proposal will slightly contract GDP and government revenue. The Harris proposal will decrease income inequality, while the Trump proposal will increase it.