Camala Harris's proposal would raise the tax deduction for small businesses from $5,000 to $50,000, allowing gradual deductions over years or delayed claims until profit.
Garrett Watson estimates that Harris's plan could cost taxpayers $20 billion over the next decade, analyzing past deductions' impacts onbudget and revenue collection.
Watson explains that the cost is more about timing of revenue collection rather than an outright tax cut, since the deductions would be spread out over years.
Thomas Savage criticizes the proposal as a gimmick to engage small businesses, asserting that such tax credits often don't incentivize sustainable economic growth.
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