Vice President Kamala Harris is set to propose a significant tax deduction of up to $50,000 for new small businesses, a tenfold increase from the current $5,000 deduction, in an effort to bolster her presidential campaign and contrast her economic strategy with that of Republican Donald Trump. This proposal aims to encourage entrepreneurship by allowing new businesses to either spread the deduction over several years or delay claiming it until they become profitable. Harris's broader economic agenda, labeled the 'Opportunity Economy,' includes additional measures such as reducing red tape for small businesses and increasing federal contracting opportunities for them. She aims to generate 25 million new business applications during her first term, outpacing the current administration's record. The proposal arrives as Harris seeks to distance herself from President Biden's economic challenges while emphasizing support for middle-class families. Her announcement will be made in Portsmouth, New Hampshire, ahead of a critical debate against Trump, who has criticized her economic policies.