Harris’s Tax Benefits for New Businesses Harbor Potential for Distortions if Companies Spin Off Projects: Economist

Kevin Hogan
By Kevin Hogan
September 5, 2024NTD Good Morning
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Democratic presidential nominee Vice President Kamala Harris plans to increase tax benefits for business startups from $5,000 up to $50,000.

According to Jason Sorens, a senior economist at the American Institute for Economic Research, the plan has the potential for distortions if companies decide to stop growing their business directly and, instead, spin off new businesses to take advantage of the tax break.