Conservative economists are pouring cold water on Vice President Kamala Harris' new proposal aimed at reducing startup costs for new small businesses as part of her 'Opportunity Economy' economic platform. Harris unveiled new small-business tax proposals last week aimed at reducing the cost burden related to starting a new business. Among the proposals was a substantial increase in the standard tax deduction for small-business startup costs, from $5,000 to $50,000.
While right-wing economic experts argue Harris' latest tax proposal would be diminished by her plans to raise taxes in other areas and do little to help inexperienced business owners start their first company, Roger Hochschild, a Harris supporter and former CEO at Discover Financial Services, says the move will be 'critical to driving further economic growth.
Fox News Digital reached out to the Harris campaign for comment on the criticisms about her small-business tax proposal, but was only directed to a social media post of a small business owner speaking at a Harris campaign rally. Do you think that your small business is better off now, than it was under the Trump administration?' NBC's Gabe Gutierrez asked the entrepreneur. 'Oh, without a doubt,' the business owner, Brad Smith, responded. 'And I think the reason is everything to do with optimism — if you're a doom-and-gloom candidate, or president, you are not going to start a business.'