S&P 500 could see 5% earnings hit from Harris’ proposed tax reforms, says Goldman Sachs

U.S. Vice President and Democratic presidential candidate Kamala Harris’ proposed corporate tax hike ahead of the November Presidential elections could lower earnings for companies on the benchmark S&P 500 index by about 5%, analysts at Goldman Sachs said.

On the other hand, Trump’s proposed relief on the federal statutory domestic corporate tax rate to 15% from the current 21% would “arithmetically” boost S&P 500 earnings by about 4%. Goldman projected with each 1 percentage point change in the U.S. statutory domestic tax rate the shift in S&P 500 earnings per share would be slightly less than 1% or about $2 of S&P 500 EPS.

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S&P 500 could see 5% earnings hit from Harris' proposed tax reforms, says Goldman SachsLast month, Harris proposed raising the corporate tax rate to 28% from 21% and ensure 'big corporations pay their fair share,' if she wins the election...
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