Democratic presidential nominee Hillary Clinton appealed to small business owners on Tuesday when she announced a detailed plan to help make opening a business easy. The plan detailed a standard tax deduction for small businesses that small businesses would enjoy without having to file additional paperwork. The tax break was previously only available to individuals.
Clinton has declared that she would be a president for small businesses during her campaign, and this is the first time she has clarified her position with a concrete plan.
The paperwork and procedures required for businesses to obtain licenses would further be streamlined under the plan. Clinton’s plan would work on the state and federal level to make getting business licenses faster. There would be incentives put in place for streamlining the process.
Businesses that employ up to 50 people would also gain a healthcare tax credit in an effort to expand the tax credits offered under the Affordable Care Act.
Clinton discussed the new plan on Tuesday with a group of small business owners to hear their concerns and get their opinions on her proposal. “I’d like to get rid of the unnecessary red tape,” Clinton stated when discussing small bank and credit union lending to entrepreneurs.
The meeting was fruitful, with small business owners stating financing and regulatory issues are the hardest to overcome.