Joseph Lawler of the Washington Examiner reports on business reaction to tax plans emanating from Democratic presidential nominee Hillary Clinton’s campaign.

Business executives planning for the future face a source of uncertainty in Hillary Clinton’s corporate tax proposals.

While companies in general see a Clinton presidency as a less risky and more attractive option than four years of Donald Trump, business taxation is one area in which they might be more inclined to favor the Republican.

Clinton hasn’t said exactly what corporate tax rate she would favor or spelled out other key details of a business tax agenda, beyond a preference for raising taxes.

That leaves executives to fill in the blanks by looking at a Democratic Party that may be moving left on corporate taxation, favoring tougher rules and higher taxes rather than the rate reductions advocated by President Obama.

Should Democrats win big on Clinton’s coattails and receive a mandate for their agenda, harmful tax increases may be in store for corporations, said Phil Orlando, chief equity strategist at Federated Investors Inc.

In that scenario, “I don’t think we get the moderate Mrs. Clinton. I don’t think we get the ‘Bill’ Hillary. I think we run the risk of getting the ‘Bernie’ Hillary,” he said, contrasting Bill Clinton’s center-left governance versus Vermont Sen. Bernie Sanders’ populist agenda.

For now, however, markets reflect a clear preference for Clinton, Orlando noted.