WASHINGTON (NewsNation) — Vice President Kamala Harris is expected to unveil the next component of her economic policy plan — including a $50,000 tax deduction for startup expenses — Wednesday during a speech in New Hampshire, NewsNation has learned.
Harris, the Democratic nominee for president, intends to announce her proposal aimed at boosting small business and the needs faced by American entrepreneurs, a Harris campaign official said, speaking on the condition of anonymity.
Under her plan, Harris would expand the small business tax deduction from $5,000 to $50,000, ten times the current relief.
Harris will also announce a goal of 25 million new small business applications in her first term — surpassing the 19 million under the Biden-Harris administration — and intending to draw a contrast from former President Donald Trump’s term.
The first tranche of Harris’ economic agenda for her first 100 days in the White House — which was released last month — included efforts to combat price gouging in food and groceries.
“I will work to pass the first-ever federal ban on — price gouging on food,” Harris said at a campaign event in North Carolina.
Trump slammed Harris’ newly debuted economic plan, claiming that her proposals will make costs “100 times worse.”
“If you think things are expensive now, they will get 100 times WORSE if Kamala gets four years as President,” Trump wrote on X.
“Under her plan, Kamala will implement SOVIET Style Price Controls. She will abolish private health care, and make California’s ridiculous tax policies the law of the land, meaning EVERY American will be taxed up to 80% of their income! If you want more CASH and less TAX, VOTE TRUMP!!!”
Following Harris’ remarks in New Hampshire, she will travel to Pittsburgh on Thursday to prepare for next week’s presidential debate against Trump, two sources familiar with the planning tell NewsNation.