Vice President Kamala Harris is gearing up to introduce a series of new benefits aimed at entrepreneurs and small business owners in an effort to stimulate the establishment of millions of new businesses. These proposals are part of a second wave of economic initiatives that will be revealed on Wednesday.
During an upcoming economic speech in New Hampshire, Harris will advocate for the expansion of a tax deduction that covers costs associated with starting a business. Additionally, she plans to address regulatory obstacles, such as filing requirements and operational licenses, for businesses of a specific size. These measures are designed to resonate with the middle-class demographic and potentially enhance her electoral prospects in November.
At a recent event in Savannah, Georgia, Harris hinted at an upcoming tax credit. Currently, small businesses are eligible for a $5,000 deduction for expenses related to their first year of operation. Harris is expected to propose increasing this deduction to $50,000, considering the average startup costs of around $40,000.
Furthermore, Harris is anticipated to adopt a strategy often associated with conservatives by positioning herself as fiscally responsible. By embracing these policies, Harris aims to present a comprehensive economic vision that appeals to a broad spectrum of voters.
