Harris proposed raising the corporate tax rate to 28% from 21% and ensure "big corporations pay their fair share," if she wins the election against Republican rival Donald Trump. Goldman estimated that at a 28% taxation rate earnings of S&P 500 companies would take a 5% hit.

U.S. economic growth would likely get the biggest boost in the coming two years from the Democrats, headed by Kamala Harris, winning the White House and Congress in this November's elections, according to Goldman Sachs.

Vice President Harris is set to propose expanding tax relief for Americans starting a small business as part of her economic plan, a Harris campaign official told The Hill. The proposal would tenfold expand the small business tax deduction for startup expenses from $5,

NewsNation’s Kellie Meyer outlines Vice President Kamala Harris’ economic plan, which includes a tax deduction for startup company expenses and simpler tax filing rules. Harris hopes to see 25 million new small business applications in her first term.

Goldman Sachs, in a report, said that the GDP is likely to increase with a Harris administration and with Democrats controlling Congress.