Joseph Zeballos-Roig @josephzeballos
New: Harris will propose in NH today to supercharge a small biz deduction to $50,000 from $5k, paired with establishing a goal for 25 million small business applications for a first term.
Under Biden admin so far, there has been record 19 million small biz apps
The plan, which Ms. Harris will announce during a speech in New Hampshire, would allow new companies to deduct up to $50,000 in start-up expenses, a campaign official said. The move would increase by tenfold a $5,000 deduction that companies can now claim for expenses, like advertising and salaries, that they incurred before they started operating.
The goal of the proposed expansion is to help start 25 million small businesses if Ms. Harris is elected. In New Hampshire, she will also discuss creating a new fund to help small businesses expand, easing regulations and simplifying the taxes small businesses owe by creating a universally available deduction, the campaign official said.
https://www.nytimes.com/live/2024/09/04/us/harris-trump-election
MeidasTouch @MeidasTouch
NEW: Kamala Harris will announce a bold new plan in New Hampshire to help small businesses thrive.
It includes:
Expanding Startup Tax Deductions: Increase the tax deduction for startup expenses from $5,000 to $50,000, easing financial burdens for new business owners.
Cutting Red Tape: Implement measures to streamline regulatory processes and reduce the time required to file taxes, making it simpler to start and manage a small business.
Ambitious Growth Goal: Target 25 million new small business applications during her first term, supported by a mix of tax credits, grants, and technical assistance programs.
Harris' policy is a massive contrast to Trump's plan to give massive tax breaks to large corporations.
https://meidasnews.com/news/kamala-harris-to-unveil-bold-plan-to-jump-start-small-businesses-in-america
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