Harris proposes major corporate tax hike, reversing Trump era cuts

CHICAGO — As the Democratic National Convention kicked off on Monday, Vice President Harris called for upping the corporate tax rate as the party's presidential nominee unveiled her first big ticket proposal to raise revenues.

The Harris campaign confirmed to Fox News that the vice president is proposing to raise the rate that major businesses pay from 21% to 28%, describing it as "a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share."

"As President, Kamala Harris will focus on creating an opportunity economy for the middle class that advances their economic security, stability, and dignity," campaign spokesperson James Singer said in a statement.

TRUMP, VANCE, HIT KEY BATTLEGROUND STATES THIS WEEK TO COUNTER-PROGRAM DEMOCRATS' CONVENTION

The move, if it were to become law, would likely raise hundreds of billions of dollars, according to projections from the nonpartisan Congressional Budget Office.

The announcement comes as Harris is beginning to offer details on how she'd govern if she is elected president and how she would try to pay for expensive ideas she proposed last week, including expanding the child tax credit and easing the cost of homeownership and lowering medical debt.

HARRIS, TRUMP HOLD DUELING RALLIES IN BIGGEST OF THE BATTLEGROUNDS

The announcement would also constitute a major rollback of the 2017 tax cuts, the signature domestic legislation passed during former President Trump's administration that dramatically cut the corporate tax rate from 35% to 21%.

Trump has pledged to cut taxes if he returns to the White House.

"Our plan will massively cut taxes," Trump said at a campaign event on Monday at a factory in York,