Kamala Harris proposes huge tax deduction for more than 25 million small businesses

Vice President Kamala Harris is set to unveil a proposal to massively expand tax relief for small businesses as she continues to lay out her economic policy platform with just over 60 days to go before the election.

The Democratic presidential nominee will travel to North Hampton, New Hampshire, on Wednesday where she will announce a new goal for a record 25 million new business applications during her first term if elected.

The proposal includes expanding the startup expense deduction for small businesses by tenfold from $5,000 to $50,000.