Harris campaign spokesperson James Singer said the move would be part of “a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”

When Trump was president, he slashed the corporate tax rate to 21% from 35% and implemented other tax breaks that are set to expire next year. Trump has vowed to make the cuts permanent.

Changes to the US tax code require approval by Congress. Democrats and Republicans are in a tight battle for control of the Senate and the House of Representatives, both up for grabs in the Nov 5 election.

Harris, a Democrat, has pledged to maintain President Joe Biden’s promise not to raise taxes on people who make US$400,000 or less a year.

In an economic policy speech last week, Harris outlined proposals to cut taxes for most Americans, ban “price gouging” by grocers and build more affordable housing as part of the “opportunity economy” she plans to pursue if she wins the White House.