Here’s what Harris is proposing for the economy
CNN
Vice President Kamala Harris is adding tax relief for small businesses to her economic policy platform aimed at helping middle-class and working Americans.
Vice President Kamala Harris is adding tax relief for small businesses to her economic policy platform aimed at helping middle-class and working Americans. Harris unveiled Wednesday a proposal to massively increase the existing small business tax deduction for startup costs and cut the red tape that impedes small businesses’ formation and growth. Her goal: 25 million new small business applications by the end of her first term, up from the record 19 million received under the Biden administration as of mid-August. Harris on Wednesday also proposed raising the capital gains tax rate, though by not as much as President Joe Biden has called for. The measures come three weeks after Harris released a four-part package aimed at making housing, groceries, child rearing and prescription drugs more affordable. Many of the proposals build upon efforts the Biden administration has already unveiled. Most, if not all, of Harris’ proposals would require congressional approval, which would be a significant hurdle if Capitol Hill remains as divided as it is currently.
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