On Friday, a group of more than 20 state treasurers endorsed Vice President Harris' proposal to expand tax breaks for Americans starting small businesses.
In a letter obtained by The Hill, treasurers from Nevada, Colorado, Oregon and several other states supported Harris and supported her economic policy, especially expanding tax credits for entrepreneurs. He emphasized the policy part.
The group argues that small businesses are critical to the strength of the economy, and that by 2024, Ms. He praised his efforts to support businesses.
The group would increase the current federal small business tax credit by ten times, give small business owners a one-time credit of up to $50,000 to cover startup costs, and make it easier to run a small business. He outlined his plan, including eliminating red tape. A company declares taxes.
“And under Ms. Harris' plan, small businesses will open faster than ever before, with a goal of 25 million new business applications in her first term,” the group wrote. are. “Donald Trump has taken a different approach. His proposal would raise taxes on millions of small businesses through a de facto national sales tax on imported goods, with costs passed on to customers. It will have to happen.”
The letter outlined the group's concerns about former President Trump, who claimed he would only extend tax cuts to the wealthiest Americans.
“We know that smart policies contribute to long-term growth, and we strongly believe that Kamala Harris' fiscally responsible proposals will ensure an economy that creates opportunity for everyone. The same cannot be said for Donald Trump,” the group wrote.
Fourteen state treasurers signed the letter, including California State Treasurer Fiona Ma. Michael Frerichs, Illinois State Treasurer. New Mexico State Treasurer Laura Montoya and Washington State Treasurer Mike Pelliciotti.
