US Tax Reform

Harris proposed raising the corporate tax rate to 28 per cent from 21 per cent and ensure big corporations pay their fair share

The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda

The temporary exemption on provisional income tax is retroactive from Jan. 1 this year, which means firms that have paid taxes this year will be refunded

Indian-American Congressman Raja Krishnamoorthi said the Republican tax bill would add nearly $1.5 trillion to the national debt while raising taxes on working families

Republicans insist that the sweeping package of tax cuts for corporations, small businesses and individuals will boost economic and job growth

Experts agree that the US tax reforms will affect markets around the world

It will make the country more attractive for companies across the board and also have a major effect on international capital flows and tax laws