Vice President Harris proposes increasing federal tax incentives for small business startups to $50,000, aiming for 25 million new applications.

Vice President Kamala Harris plans to propose a significant increase in federal tax incentives for small business startups, raising the deduction from $5,000 to $50,000. This initiative aims to generate 25 million new small business applications during her potential four-year term. The proposal, requiring congressional approval, also includes measures to ease regulations and establish a fund to support community banks in underinvested areas.

September 03, 2024
250 Articles