Pittsburgh, PA – Kamala Harris’ recent economic policy speech in Pittsburgh has sparked a conversation among local business owners about the potential impact of her proposed incentives for small businesses. Harris emphasized her commitment to supporting small businesses and facilitating the creation of new ventures.
Stacy Cohen, the owner of Madeleine George boutique, expressed her support for Harris’ proposals but also highlighted the significant challenges faced by independent retailers. “Small businesses are the backbone of our communities,” Cohen noted. She explained that the financial burden of starting and maintaining a business has intensified due to increased competition from online retailers and the high costs associated with inventory and operations.
In her speech, Harris proposed increasing the current startup tax deduction from $5,000 to $50,000. “With today’s economic landscape, it is nearly impossible to launch a business with just $5,000,” Harris stated, advocating for a more substantial tax deduction to ease the financial strain on new entrepreneurs.
Ilene Levy, who operates three businesses on Walnut Street – Glassworks, Feathers, and Cheeks – also voiced her support for enhanced incentives. Levy highlighted the multifaceted nature of starting a business, noting that costs extend beyond initial capital to include rent, employee salaries, and business design. “Incentives that attract new businesses would be incredibly helpful,” Levy said. “Understanding your community and client base, managing budgets, and handling all the expenses can make it challenging for new businesses to thrive.”
Harris’ proposal reflects an ongoing commitment to bolstering small businesses, which many local entrepreneurs view as vital to their success and the broader community.
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