'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
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
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.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50