Tax policy experts predict where Kamala Harris might stand.

• Experts are keeping an eye on Vice President Kamala Harris, who is the frontrunner for the Democratic nomination, for potential tax policy changes with President Joe Biden out of the election.
• Voters could see similarities between Harris's economic agenda and Biden's proposals, which involve increasing taxes on the wealthy and corporations.
• Whether Harris' platform will be similar to her 2020 campaign remains uncertain.

Experts are keeping an eye on Vice President Kamala Harris as the frontrunner for the Democratic nomination and potential tax policy changes.

Experts predict that Harris's economic plan may share similarities with Biden's proposals, which involve increasing taxes on the wealthy and corporations.

During the 2020 presidential election, Harris had similar priorities to Biden but presented unique proposals before her campaign ended in December 2019.

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According to Garrett Watson, senior policy analyst and modeling manager at the Tax Foundation, it appears that Harris is largely in agreement with Biden's policies, particularly in the long term.

If Harris is the Democratic nominee and utilizes the Biden campaign's infrastructure and staff, it may restrict her capacity to diverge from the Biden campaign's path, according to him.

The Harris campaign did not immediately respond to CNBC's request for comment.

Tax issues should be closely monitored when it comes to Harris, according to policy experts.

Expiring Trump tax cuts and Biden's pledge

Experts say that as trillions of tax breaks expire after 2025, addressing tax policy and the federal budget deficit will be crucial for Harris.

The Tax Cuts and Jobs Act (TCJA) of 2017, enacted by former President Donald Trump, temporarily lowered federal income brackets, raised the standard deduction, and boosted the child tax credit, among other changes.

Trump seeks to prolong TCJA provisions, including greater reductions in corporate taxes, while Biden proposes renewing tax breaks solely for individuals earning under $400,000.

Whether Harris will follow Biden's promise not to raise taxes on individuals earning less than $400,000 is a significant concern, according to Andrew Lautz, associate director for the Bipartisan Policy Center's economic policy program.

He stated that the upcoming Democratic tax proposals and TCJA negotiations would have significant consequences.

Focus on the child tax credit

In the 2020 campaign, Harris proposed the LIFT the Middle Class Act, which would have given a refundable tax credit of up to $3,000 for single filers and $6,000 for married couples filing jointly.

Harris may prioritize the child tax credit expansion, as Biden and Democrats have already focused on it, with an expansion passing in the House in February.

While the previous administration provided tax reductions to wealthy individuals, our administration offered tax cuts to families through the child tax credit, resulting in a 50% reduction in child poverty in America.

The American Rescue Plan increased the maximum tax break for children to $3,000 or $3,600, from $2,000, and provided monthly payments to families. This led to a historic low of 5.2% in the child poverty rate in 2021, largely due to the expansion, according to a Columbia University analysis.

In 2022, the percentage of children living in poverty increased by more than double after pandemic relief expired, reaching 12.4%, according to the U.S. Census Bureau.