Advancing American Freedom (AAF), which was founded by former Vice President Mike Pence, warned in a memo released Wednesday that Vice President Kamala Harris’ past tax proposals would drastically harm American industry if they were put in place.
AAF highlighted that Harris’ proposals from her 2020 presidential campaign call for raising taxes on businesses and warned it would incentivize American industries to move overseas, ultimately “advantaging China,” according to the memo exclusively obtained by the Daily Caller News Foundation. Instead, AAF said former President Donald Trump’s latest tax proposals should be embraced in order to “undercut Chinese state subsidies” while also spurring “domestic job growth and higher wages.”
“Vice President Kamala Harris’ tax plan is even more extreme than President Biden’s disastrous policies,” the memo reads. “During her failed run for the White House in 2020, Kamala Harris repeatedly called for the complete repeal of the Tax Cuts and Jobs Act of 2017. Conservatives must not only reject Kamala Harris’ plan but go on offense to champion tax cuts that give Americans relief from the failed policies of the Biden-Harris administration.”
Harris’ 2020 tax plan featured a hike in corporate taxes from 21% to 35%, which is a 67% increase from current rates, according to the memo. This would mean the U.S. would have the highest corporate tax rate in the world, and even 25% higher than the rates Biden has proposed.
“Americans want to bring back industries to America,” the memo reads. “But the Harris tax plan would handicap American industry by making our tax code uncompetitive, advantaging China, and pushing American businesses back overseas.”
Comparatively, AAF argues that Harris’ tax policies would make domestic corporate tax rates 40% higher than in China, which would advantage them by pushing American businesses and manufacturing overseas, according to the memo.
“To stop the Chinese Communist Party’s quest for global dominance, America must become the world leader in global supply chains,” the memo reads. “America cannot lead the world if we follow Kamala Harris’ plan to punish American businesses and economically surrender to China.”
AAF also argued that Harris’ tax proposals would not only aid foreign countries, but would ultimately harm American industries and workers.
“Raising corporate tax rates will haphazardly hit all American workers and businesses, rather than targeting those that have engaged in wicked and woke cronyism,” the letter reads. “Rather than punishing U.S. workers, Congress should follow a three-step plan to end partisan corporate welfare.”
AAF’s alternative three-step plan urges lawmakers to repeal Biden-era policies that “encourage corporate DEI,” repeal Green New Deal policies that “subsidize favored companies” and get rid of tax expenditures that give “tax carveouts to woke businesses.”
“The American people deserve to know if Kamala Harris supports American workers or Chinese Communist Party controlled companies,” the memo reads.
The Harris campaign did not immediately respond to a request for comment from the Daily Caller News Foundation.
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