'Harris proposes raising the corporate tax rate to 28%, rolling back a Trump law' - NBC News
Portfolio Pulse from Benzinga Newsdesk
Vice President Kamala Harris has proposed raising the corporate tax rate to 28%, reversing a tax cut implemented during the Trump administration. This proposal could impact corporate earnings and stock prices, particularly for large companies.
August 19, 2024 | 7:28 pm
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The proposal to increase the corporate tax rate to 28% could negatively impact the earnings of companies within the S&P 500, potentially affecting the SPY ETF.
The SPY ETF tracks the S&P 500, which consists of large U.S. companies. An increase in corporate tax rates could reduce these companies' net earnings, leading to potential downward pressure on the SPY ETF.
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IMPORTANCE 70
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