Kamala Harris Proposes $50K Small Business Tax Deduction

Published SEP 5 2024

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The Spin

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

The Hill

Kamala Harris' promised tax plan for small businesses comes against the backdrop of her other proposal — to hike corporate tax, which could have significant negative effects on small businesses 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.

World News

Metaculus Prediction

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