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Snapshot 1:Thu, Sep 5, 2024 12:59:12 PM GMT last edited by Harish Chander

Kamala Harris Proposes $50K Small Business Tax Plan

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The Spin

Kamala Harris faces a tough challenge in winning over small-business owners, who currently lean toward supporting another Trump administration. To that extent, her championing of tax breaks directly benefiting small businesses is a bold move. So is her promise to cut red tape. By addressing these concerns, Harris can appeal to small-business owners who feel overlooked.

Kamala Harris's promised tax plan for small businesses comes in the backdrop of her other proposal -- to hike corporate tax, which could have significant negative effects on small businesses, too, besides the broader economy. Small businesses that rely on larger corporations could be badly hit. In contrast, Trump's proposed tax relief could boost earnings, making Harris's plan appear detrimental.

Metaculus Prediction

There is a 98.3% chance a US presidential debate between Donald Trump and Kamala Harris will be held on Sept. 10, 2024, according to the Metaculus prediction community.


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