Georgia officials join small business owner to push for Kamala Harris tax plan in Columbus

Democratic Georgia representatives joined with a local small business owner Friday to tout Vice President Kamala Harris’ tax plan in Columbus.

Earlier this week, Harris proposed increasing the existing small business tax deduction for startup costs and making starting a small business easier.

Small businesses can currently deduct up to $5,000 in the year they begin operating, according to the Congressional Research Service. Harris’ plan would expand the tax deduction to up to $50,000 and allow them to wait to claim the deduction until they first turn a profit.

It costs about $40,000 on average to start a business, Gerald Riley, retired veteran and owner of Overflo Salon and Barber Shop on Rigdon Road, said during the press conference.

Riley recalled the time spent crunching numbers and analyzing receipts when he began his barbershop.

“I put in late nights trying to figure out how I can get my business off the ground,” he said. “And I quickly realized it costs a lot of money.”

Riley recently spoke with other young barbers about the struggles he had building his business. He believes this proposal would have a positive impact on the up-and-coming businesses.

“I’m already established,” Riley said. “I’ve been in business 27 years. But I thank God that now the young entrepreneurs coming up under me are going to have a better tax break than I did.”

Harris’ other proposals to support small businesses included measures to make it easier for business owners to file taxes and work across state lines; offering federal incentives so state and local government can ease regulation; and investing in community development financial institutions serving low-income communities.

Georgia State Reps. Carolyn Hugley and Teddy Reese, who joined Riley in the press conference, spoke about the impact cutting red tape would have on small business.

Many individuals who start small businesses begin with a small amount of money, Hugley said, and a lot of people don’t realize how much taxes they have to pay.

“For example, you’ve already bought this chair,” she said. “But at the end of the year, you’re going to have to pay taxes on this chair. Those are the things people don’t really think about.”

Relieving these types of burdens can help more people go after the dream of opening a business, Hugley said.

Harris’ goal with the tax plan is to spur 25 million new small business applications over four years.

The idea of promising tax break in a campaign isn’t new, Reese said.

“But this is one of the first times we’ve heard it talked about for small businesses,” he said.

During the press conference, Reese also took time to state, on the behalf of the local delegation, that his heart was with the victims of the shooting at Apalachee High School in Winder.

“We have seen too many senseless killings as it relates to gun violence,” Reese said. “And I know we’re talking about the economy, but we must take a moment to say that we cannot stand for this foolishness anymore.”