Harris unveils new tax deduction plan amid Trump criticism

During a campaign event in New Hampshire, Vice President Kamala Harris unveiled a new economic proposal aimed at supporting small business owners. The plan includes a significant increase in the small business tax deduction for startup expenses, raising it from $5,000 to $50,000. Additionally, Harris set an ambitious goal of generating 25 million new small business applications within her first four years in office, alongside promises to provide low and no-interest loans to help existing businesses expand. Harris emphasized the importance of reducing bureaucratic obstacles that hinder entrepreneurs, stating that her initiatives are part of her Opportunity Economy strategy. She positioned herself as a defender of the average voter, contrasting her policies with those of former President Donald Trump, whom she criticized for favoring wealthy individuals and corporations. Harris proposed a tax rate of 28% on long-term capital gains for individuals earning over a million dollars annually, asserting that billionaires and large corporations should contribute their fair share. In her speech, Harris also addressed the issue of gun violence, expressing condolences for a recent shooting incident in Winder, Georgia, while refraining from suggesting changes to the Second Amendment. Her remarks reflect a broader strategy to connect with voters on pressing social issues while promoting her economic agenda. The Trump campaign responded to Harris's proposals with criticism, highlighting concerns from local business owners in New Hampshire. They framed the upcoming election as a choice between freedom and what they termed communism, indicating a contentious political landscape as both parties prepare for the electoral battle ahead.