Dive into the highlights from the DNC as we break down Vice President Kamala Harris’s taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. proposals and their potential impact on everyday families. What do higher taxes on businesses and the wealthy mean for working Americans?
Erica York, Senior Economist and Research Director, joins Kyle Hulehan to examine her VP pick, Tim Walz, and how his progressive taxA progressive tax is one where the average tax burden increases with income. High-income families pay a disproportionate share of the tax burden, while low- and middle-income taxpayers shoulder a relatively small tax burden. policies have shaped Minnesota’s economy. Plus, we’ll take a closer look at Harris’s child tax creditA tax credit is a provision that reduces a taxpayer’s final tax bill, dollar-for-dollar. A tax credit differs from deductions and exemptions, which reduce taxable income, rather than the taxpayer’s tax bill directly. expansion.
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