WASHINGTON (AP) — Vice President Kamala Harris plans to propose on Wednesday a tenfold increase in federal tax incentives for small business startup
Democratic presidential nominee Vice President Kamala Harris campaigns with President Joe Biden at the IBEW Local Union #5 union hall in Pittsburgh on Labor Day, Monday, Sept. 2, 2024.
Such changes would likely require congressional approval. But a series of tax cuts approved during the Trump administration are set to expire at the end of next year, setting up a scenario where lawmakers may be ready to consider new tax policies. The proposal can help Harris show her support for entrepreneurs even as she’s called for higher corporate tax rates.
“The cost of living in New Hampshire is through the roof, their energy bills are some of highest in the country, and their housing market is the most unaffordable in history,” Trump posted last week on his social media platform. In the weeks since Harris took over the top of the Democratic ticket, she has offered relatively few major policy proposals — attempting to strike a political balance between injecting new energy into the race and continuing to support many of the Biden administration proposals she helped champion as vice president.
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