Democratic presidential nominee Hillary Clinton is set to unveil a series of proposals aimed at small businesses, perhaps most prominently a new standard tax deduction.
That deduction would echo the one available to individual filers and is aimed at simplifying the tax process for businesses, the Wall Street Journal reported, though it’s not yet clear what, precisely, the new process would entail. The WSJ pointed out that this is a departure from Clinton’s previous policy proposals, which were largely composed of added tax credits or creating new paths to business success.
Among the other notable elements of Clinton’s proposal — expected to be rolled out by running mate Tim Kaine and then Clinton herself as part of events in Colorado— are an increased deduction for startups, and a revamp of a tax credit associated with the Affordable Care Act that could encourage more small businesses of up to 50 employees to offer health insurance, the WSJ said.
