Association for Enterprise Opportunity (AEO) Releases 2024 Presidential Candidate Comparative Economic Policy Brief
Washington, D.C. (September 11, 2024) – Today, the Association for Enterprise Opportunity (AEO) released a comprehensive economic policy brief comparing the small business initiatives of the two leading U.S. presidential candidates: Vice President Kamala Harris and former President Donald Trump. The report provides an in-depth analysis of their proposed economic policies, with a focus on the impact these policies may have on small businesses, particularly those in underserved communities.
The policy brief highlights the contrasts between Harris’s small business-focused tax reforms and regulatory relief, and Trump’s broader corporate tax cuts and deregulatory agenda. Both candidates present different strategies to promote economic growth, and AEO’s report provides critical insights into how these policies could affect entrepreneurs.
Key Findings of the Report:
- Harris Economic Plan: Harris’s proposals include expanding the tax deduction for startup expenses to $50,000, increasing investments in Community Development Financial Institutions (CDFIs), and providing more opportunities for federal contracts to small businesses. Her focus on reducing regulatory barriers and supporting rural and marginalized communities directly aligns with AEO’s mission to support underserved entrepreneurs.
- Trump Economic Plan: Trump’s economic agenda focuses on reducing corporate taxes and rolling back regulations in key industries, such as energy and manufacturing. While his policies could create opportunities for small businesses in certain sectors, AEO expresses caution about the potential negative effects of deregulation on underserved communities.
Natalie Madeira Cofield, President & CEO, Association for Enterprise Opportunity:
“As the 2024 election draws near, it is more important than ever to recognize how the economic policies being proposed will shape the future of small businesses, which are the driving force behind our nation’s economy,” said Natalie Madeira Cofield, President & CEO of the Association for Enterprise Opportunity. “Small businesses are not only engines of innovation and job creation but also crucial to the economic resilience of underserved communities. Our analysis reveals a stark contrast in how each candidate envisions supporting this vital sector. At AEO, we remain steadfast in our commitment to advocating for policies that foster inclusive and equitable economic opportunities, ensuring that every entrepreneur has the tools and resources needed to thrive in this evolving landscape.”