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Sen. Kamala Harris. Photo: Ethan Miller/Getty Images

2020 Democratic presidential candidate Sen. Kamala Harris (D-Calif.) said Monday that she would "get rid of the whole" GOP tax overhaul passed by Republicans in 2017 and replace it with her proposed LIFT the Middle Class Act — an expansion of the earned income tax credit, Bloomberg reports.

Why it matters: Repealing Trump's tax bill — which polls show has become increasingly unpopular, having delivered most of the benefits to the wealthy — would affect almost every tax-paying American, Bloomberg notes. It would cut both the child tax credit in half and standard deduction for a couple filing jointly in half, while also raising the corporate tax rate from 21% to 35%, per Bloomberg.

  • Harris' proposed replacement, the LIFT Act, would provide refundable tax credits of up to $6,000 per year for families earning less than $100,000 annually and $3,000 for single filers earning less than $50,000.

Go deeper: Everything you need to know about 2020 candidate Kamala Harris

Go deeper

11 mins ago - Politics & Policy

First look: Reid Hoffman launches $1M ad urging election patience

Screengrab of ad

Billionaire and LinkedIn co-founder Reid Hoffman, one of Democrats' biggest donors, tells Axios he's launching a $1 million digital ad campaign in battleground states urging voters to be patient with election results and prepare for no winner to be known on Nov. 3, no matter what "some people" may prematurely declare via Twitter.

Driving the news: The three-minute ad, titled "We Count! A Patriotic Musical Extravaganza," features the voice of "The Big Bang Theory's" Jim Parsons and Broadway star Barrett Doss. The spot will appear on Facebook targeting voters in the swing states of Arizona, Florida, Iowa, Michigan, North Carolina, Ohio, Pennsylvania and Wisconsin.

The massive early vote

Illustration: Sarah Grillo/Axios

Early voting in the 2020 election across the U.S. on Friday had already reached 61.7% of 2016's total turnout, according to state data compiled by the U.S. Elections Project.

Why it matters: The coronavirus pandemic and its resultant social-distancing measures prompted a massive uptick in both mail-in ballots and early voting nationwide, setting up an unprecedented and potentially tumultuous count in the hours and days after the polls close on Nov. 3.