Vice President Kamala Harris on Sept. 4 unveiled a new proposal for small business tax breaks as the Democratic candidate looks to flesh out her economic platform ahead of a debate with former President Donald Trump next week.
The plan, released during a campaign speech on Sept. 4 in Portsmouth, New Hampshire, includes an increase in the tax deduction for startup costs from $5,000 to $50,000. The campaign aims to attract 25 million new small business applications in a potential first term—an increase from the 19 million under the Biden administration as of mid-August of this year.
Experts who spoke to The Epoch Times said that while the plan could help spur economic activity, it would add billions to the deficit in the next decade. The proposals would ultimately require congressional approval….