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In an exclusive conversation with Rickey Smiley, Vice President Kamala Harris revealed her ambitious plans to support small businesses across the United States. With nearly 46.4% of all private sector employees working for small businesses, Harris’s proposals are both timely and impactful.
Harris shared her vision for small business growth, stating, “I have a plan to help small businesses start and grow, starting with a goal of 25 million new small business applications by the end of my first term.” Her approach includes reducing government bureaucracy and simplifying the process for obtaining occupational licenses across state lines. She also plans to introduce a “standard deduction” for small businesses and support investments in rural areas through an “expansion fund.”
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A significant aspect of her plan is the proposed increase in the small business startup tax deduction from $5,000 to $50,000. “Instead of the current tax deduction, which is only $5,000, I’m going to expand it to $50,000,” Harris explained. “This will give people the leg up they need to start a small business and build it into a successful and profitable venture.”
In addition to her small business initiatives, Harris addressed broader economic concerns. “I know that groceries are still too expensive and we have work to do there,” she said. Harris plans to combat price gouging and provide $25,000 in down payment assistance for first-time homebuyers. She also aims to expand the child tax credit to $6,000 for the first year of a child’s life.
On prescription drug prices, Harris highlighted her efforts, “We have capped the cost of insulin at $35 a month, and I intend to allow Medicare to negotiate drug prices to address affordable medication for everyone.”
Harris concluded with a call to action, emphasizing the importance of voter participation. “My plan will invest in small businesses and innovators throughout America. Please make sure you’re involved in the upcoming elections to support these initiatives and drive positive change.”
This interview provided an in-depth look at Harris’s plans and her commitment to fostering small business growth and addressing key economic issues.
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