Kamala Harris is proposing a tax break for start-ups and is intended to help business owners offset costs.
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00:00Kamala Harris is proposing a tax break for startups.
00:02It's intended to help business owners offset costs.
00:05The Democratic nominee for president
00:07will increase the small business tax deduction
00:10from $5,000 to 50,000 for new companies if elected.
00:15While it isn't clear how her administration
00:17would pay for the proposal,
00:18Harris's campaign says the amount
00:20is to cover the $40,000 on average
00:23it costs to start a small business
00:24and that filers could claim all or part of the deduction
00:28until they see a return on profits.