The 2024 presidential election could have huge implications for US corporate tax rates as Vice President Kamala Harris could push the tax rate higher while former President Donald Trump wants to edge it lower, according to their policy proposals and talking points on the campaign trail.

Catalysts welcomes Ryan Principal and Income Tax Practice Leader Ian Boccaccio to expand upon what either candidate's victory could mean for the corporate tax rate environment.

"One thing to consider is if you have certain deductions this year that you could perhaps push to next year, that could be an opportunity to the extent the rate increases under a Harris victory, if she could get rates pushed through a $100 deduction this year would give rise to a $21 benefit, whereas a $100 deduction next year would give rise to a $28 benefit," Boccaccio tells Seana Smith and Madison Mills. "Conversely, if you think

Boccaccio goes on to expand upon what these projected tax rates could mean for everyday Americans and even S&P 500 (^GSPC) companies' earnings.

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This post was written by Luke Carberry Mogan.