Democratic presidential nominee Hillary Clinton delivers remarks at a gathering of law enforcement leaders at John Jay College of Criminal Justice in NY, U.S., August 18, 2016.
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Two significant propositions of Clinton’s plan for small businesses include the option small businesses immediately write off up to $1 million in new investments, today they can write off $500,000, and to make it easier for firms with fewer than 50 employees to qualify for a health care tax credit, which will available for companies that provide insurance to their workers.
The proposals, Clinton’s aide said, are the culmination of almost 100 visits she has made to small businesses across the country, including a stop at Iowa bike shop that was one of her first campaign events.
Clinton’s opponent, Republican presidential nominee Donald Trump, has proposed capping corporate taxes at 15 percent, and, as a result, “small businesses will benefit the most”, he said last week during a speech to the Detroit Economic Club.
Trump has offered lower tax rates for small businesses and cuts to federal regulations to help “jump-start America”.
Virginia Senator Tim Kaine, Clinton’s vice presidential running mate, will unveil the proposals at a roundtable in Lakewood, Colo., and Clinton will speak to small business owners via conference call while fundraising in California.
“You will always have a seat at the table”, Clinton told business owners on the call, taking questions from entrepreneurs in Virginia and MI.
The new plan, previewed by the official, aims to streamline the process of starting and running a business in the United States, starting at the very beginning.
The Clinton campaign says the Democratic nominee came up with the proposals after visiting with small business owners over the course of her 2016 bid for the White House.
“I’d like to get rid of the unnecessary red tape”, Clinton said of regulations on credit unions and small banks that make it hard to lend to would-be entrepreneurs.
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U.S. Rep. Brenda Lawrence, D-Southfield, is a strong supporter of Clinton’s small business plan.
