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.
She wants to expand from $5,000 to $50,000 tax incentives for small business startup expenses, with the goal of eventually spurring 25 million new small business applications over four years. Harris is making the announcement while visiting the Portsmouth area, across the Piscataqua River from Maine.
Trump has called for lowering the corporate tax rate to 15% — a break with Biden who in his budget proposal in March suggested setting the corporate tax rate at 28%. Harris has released relatively few major policy proposals in the roughly six weeks since taking over the top of the Democratic ticket, but has not suggested she’s planning to deviate greatly from his administration on tax policy.
Harris has built her campaign around calls to grow and strengthen the nation’s middle class — and suggested that rich Americans and large corporations should “pay their fair share” in higher taxes.
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