Harris Tax Resource Center

Vice President Kamala Harris has recently stated her intention to reduce taxes for approximately **100 million citizens**, primarily focusing on those earning less than $400,000 annually. What about the remaining 265 million citizens?

This aligns with President Biden's commitment that individuals in this income bracket will not face increased federal taxes.

However, her plans also involve significant tax increases for the wealthiest Americans. Specifically, Harris aims to raise taxes on the top 1% of earners, which would result in an average tax increase of about **4.1% of their income**. Conversely, other income groups, including the middle and lower classes, are expected to benefit from tax cuts averaging **2.7% and 7% of income**, respectively.

Regarding the remaining **265 million people** in the U.S., Harris's tax proposals do not explicitly address their situation. The focus remains on providing relief to lower- and middle-income families while imposing higher taxes on high-income individuals. Thus, while a substantial portion of the population stands to gain from her tax reductions, the implications for those outside the targeted groups remain less clear.

The top 1% of earners, who typically have incomes starting at around $1 million, represent a much smaller segment of the population. This group includes roughly 1.3 million households. The vast majority of taxpayers earn $400,000 or less, the top 1% constitutes a relatively small fraction of total earners. [TPC Brookings Instituion]