New business owners could get a $50,000 tax deduction under Kamala Harris's plan

New business owners could get a $50,000 tax deduction under Kamala Harris’s plan

Kamala Harris wants to bolster small businesses.Scott Eisen/Getty ImagesKamala Harris is aiming for 25 million new business applications in her first term.To get there, she's proposing an increased tax deduction and reduced red tape.That comes after a post-2020 small business boom, which has seen record applications.Vice President Kamala Harris wants you to start a small business.Harris is set to roll out another economic policy, focused on a new goal: boosting small business creation. Harris's goal — which she'll announce on Wednesday — is 25 million new business applications in her first term if elected.That would outpace the over 18 million new business applications filed so far during the Biden-Harris administration, which comes amid a post-2020 business application boom. Harris aims to hack away at some of the red tape and startup costs new businesses face when they're setting up shop.!function(){“use strict”;window.addEventListener(“message”,(function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r=0;r