Benzinga
Benzinga
  • 2 months ago
Vice President Kamala Harris will unveil a new proposal to increase the tax deduction for small business startup expenses from $5,000 to $50,000. The plan will allow new businesses to spread out or delay the deduction until they become profitable. Harris also plans to set a goal of 25 million new small business applications if elected president. This announcement comes ahead of her Sept. 10 debate with Donald Trump, who has positioned himself as a pro-business candidate, criticizing Harris’ economic record.

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00:00It's Benzinga, and here's what's on the block.
00:02Vice President Kamala Harris will unveil a new proposal to increase the tax deduction
00:07for small business startup expenses from $5,000 to $50,000.
00:12The plan will allow new businesses to spread out or delay the deduction until they become
00:16profitable.
00:17Harris also plans to set a goal of 25 million new small business applications if elected
00:22president.
00:23This announcement comes ahead of her September 10th debate with Donald Trump, who has positioned
00:28himself as a pro-business candidate criticizing Harris' economic record.
00:31For all things money, visit Benzinga.com.

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