Numbers show Harris tax proposal would give to small business with one hand, take with the other

Vice President Kamala Harris unveiled new tax policies for her potential administration, which included a tenfold increase in the small business standard tax deduction.

Harris is also slated on Tuesday to unveil a goal of increasing new small business applications. She wants to increase them from 19 million under the Biden administration to 25 million under a potential Harris-Walz administration.

Other components of the proposal include incentivizing state and local governments to minimize the red tape associated with their business regulations,and reducing barriers to obtaining occupational licenses. Harris, meanwhile, pledged to launch a small business expansion fund to help loan providers focused on low-income areas to cover interest costs for small businesses seeking to relocate, or create jobs, in particular regions that have historically received less investment.