Kamala Harris' tax plan may cut corporate profits by 5%, says Goldman Sachs

Democratic presidential candidate Kamala Harris' proposed corporate tax hike to 28% could reduce S&P 500 company earnings by about 5%, according to Goldman Sachs analysts. They also noted that the broader economy might benefit if Democrats win the White House and Congress, while a Republican administration could negatively impact economic output next year due to increased tariffs and tighter immigration policies.