As the 2024 presidential race heats up, Donald Trump and Kamala Harris are offering starkly different visions for U.S. tax policy. Trump, focusing on the economy, proposes lowering the corporate tax rate and eliminating taxes on Social Security payments to garner support among business leaders and seniors. His platform also aims to make permanent the tax cuts from the 2017 Tax Cuts and Jobs Act. Meanwhile, Harris is concentrating on middle-class relief, emphasizing the expansion of refundable tax credits and pushing for policies that benefit households earning less than $100,000. As the election approaches, these differing strategies highlight the profound impact the next administration could have on tax policy and the broader economy.

Read the full article at accountingtoday.com to explore how each candidate's proposals might shape the future of tax policy.