The Democratic presidential hopeful Hillary Clinton revealed Tuesday a new plan to support small businesses. The plan is designed to make it less expensive for small businesses to launch, access financing, file taxes and provide health care for their employees as well as other potential benefits.
On her social media post, Secretary Clinton said, “Tim Kaine and I are both children of small business owners, and we’re putting this issue at the heart of our campaign”.
Needless to say that small business owners and their employees are a crucial sector of the United States economy and the voting process. According to the Small Business Administration there are 28 million small businesses (business with fewer than 500 employees) represent about 54% of U.S sales and are responsible for creating about two thirds of all new jobs.
Two significant propositions of Clinton’s plan for small businesses include the option small businesses immediately write off up to $1 million in new investments, today they can write off $500,000, and to make it easier for firms with fewer than 50 employees to qualify for a health care tax credit, which will available for companies that provide insurance to their workers.