The Republican presidential candidate Donald Trump (78) wants to examine the abolition of the $7,500 tax credit for the purchase of electric cars if he is re-elected. “Tax credits and incentives are generally not a very good thing,” the former president said. Trump said that while he is a “big fan of electric cars,” he also supports gasoline and hybrid vehicles.
However, he sees a “much smaller market” for electric vehicles due to cost and range problems. In addition, Trump is planning to use the government of US President Joe Biden (81) to reverse the regulations introduced to promote the production of electric and hybrid vehicles. He also announced measures to make it more difficult to export vehicles produced in Mexico to the US market through new tariffs.
Trump wants to further reduce the corporate tax rate from 21 percent to 15 percent. This would reduce government revenues from American companies.
Harris wants companies to pay more
In contrast to Trump, his rival Kamala Harris (59) plans to increase the corporate tax rate USA if she moves into the White House in November, as the “Financial Times” reports
. Harris’ presidential campaign said Monday it would stick with a proposal made by President Biden in recent years. This provides for an increase in the corporate tax rate from 21 to 28 percent. This level would even exceed the UK tax rate, which at 25 percent is already one of the highest among advanced economies. Harris’ plans are likely to meet with criticism in the economy.
A spokesman for Harris’ campaign said she wants to put the money back in the pockets of working people and ensure billionaires and big corporations pay their fair share. Trump’s plans would further increase the deficit, raise taxes on the middle class by $3,900 and plunge the economy into recession.