Is the U.S. small business sector making a comeback? Here's what the Treasury's report reveals

Applications for businesses most likely to hire employees have risen to 140,000 per month, 30% more than 2019, demonstrating a resurgence in the small business sector post-pandemic.

Harris has proposed increasing the startup tax deduction to $50,000, recognizing that the current limit is insufficient compared to the average $40,000 needed to start a business.

Harris emphasized, "President Biden and I know that small businesses are the backbone of our communities," highlighting their administration's commitment to supporting entrepreneurial growth.

The Treasury analysis notes a trend where small businesses have been responsible for 70% of net new American jobs since 2019, illustrating their critical economic role.

Read at Fast Company