Vice President Kamala Harris is set to unveil a new economic proposal aimed at supporting small businesses, a move that could potentially reshape the landscape of the 2024 presidential race. The centerpiece of Harris’s plan is a tenfold increase in the tax deduction for small business startup expenses, from $5,000 to $50,000. This proposal, which Harris will announce during a campaign event in New Hampshire, also includes a goal of facilitating 25 million new small business applications in her first term as president.The Harris campaign is framing this proposal as part of a broader economic strategy focused on the middle class and small business owners. Campaign officials argue that this approach contrasts sharply with former President Donald Trump’s policies, which they claim primarily benefit wealthy individuals and large corporations. James Carville, a Democratic strategist, suggests that Harris can use this focus on the economy to her advantage, noting that she is ‘the only candidate consistently talking about lowering prices, expanding small businesses, and addressing housing costs’.Recent polls continue to show Harris maintaining a lead over Trump. A USA Today/Suffolk University poll places Harris ahead of Trump 48% to 43% nationally. Harris has made significant gains with crucial voter groups, including Hispanic and Black voters, as well as younger people.In a surprising development, Jimmy McCain, son of the late Republican Senator John McCain, has publicly endorsed Harris and changed his party affiliation to Democratic. This endorsement comes in the wake of controversy surrounding Trump’s campaign activities at Arlington National Cemetery, which McCain criticized as disrespectful to veterans.As the September 10th debate in Philadelphia approaches, both campaigns are intensifying their efforts in key battleground states. Harris’s economic proposals and recent endorsements may provide her with momentum going into this crucial face-off with Trump. However, the race remains competitive, with economic issues continuing to be a central focus for voters.
Key points
- Vice President Kamala Harris proposes increasing the tax deduction for small business startup expenses from $5,000 to $50,000.
- Harris sets a goal of 25 million new small business applications in her first term as president.
- Recent polls show Harris maintaining a lead over Trump, with 48% to 43% in a USA Today/Suffolk University poll.
- Jimmy McCain, son of late Republican Senator John McCain, endorses Harris and switches to the Democratic Party.
Contradictions👾While most sources report Harris’s proposal as new, Breitbart News suggests that this policy was previously supported by Republicans and the Trump administration six years ago.
