Washington: US Vice-President Kamala Harris launched a “ambitious” plan to encourage small companies via tax deductions, low- and no-interest loans, investments, and fairer tax rules, promising 25 million new applications by the conclusion of her first term.
Small companies aren’t only building. Pursuing a dream. They’re constructing a brighter future for their workers and the people they love in their communities, which strengthens the middle class and America for us all, Harris said at a New Hampshire election campaign rally. I’ll prioritize strengthening America’s small companies as president because of this. So here I am in New Hampshire to outline some of my plan.”
Harris claimed her small business strategy began with “to help more small businesses and innovators get off the ground.” I know some would call this an ambitious objective, but I believe we should applaud one other’s ambition.
She wants “25 million new small business applications by the end of my first term.” We will cut company startup costs to assist accomplish this. She aims to save expenses by increasing start-up tax deductions from $5,000 to $50,000.
She said that her approach would boost small enterprises.
We will give low- and no-interest loans to small firms that want to expand and, most importantly, eliminate the red tape that makes establishing and developing a small company harder.
Third, Harris claimed her proposal would “invest in small businesses and innovators throughout America, and here’s why we know that talent exists everywhere in our country, from rural towns to city centers, but not everyone has access to the financing, to venture capital or expert advice”.
Finally, the Vice-President remarked, “her plan will make our tax code more fair, while prioritising investment and innovation. Billionaires and huge businesses must pay their fair share in taxes.”
Harris then criticized her Republican opponent’s policies.
She said former President Donald Trump would “cut off federal programmes that give loans to small businesses”.
