Clinton Warns Small Business Owners About 'Trump Economy'

The Democratic presidential nominee’s plan would eliminate the need to tally up overhead costs like rent and phone bills.

Democratic presidential nominee Hillary Clinton tours John Marshall High School on Aug. 17, 2016, in Cleveland.

Photographer: Jeff Swensen/Getty Images

Democratic presidential nominee Hillary Clinton laid out proposals to streamline financing and taxes for entrepreneurs and small businesses while telling business owners that Republican Donald Trump would put his interests ahead of their own.

"Imagine what he could do in the Oval Office. What a Trump economy would mean," Clinton told small business owners on a conference call Tuesday to announce her proposals, which expand on economic plans she's already released.  "I think if his record is any indication – and that’s what we have to look at – it’s clear that Trump always puts himself first and leaves others holding the bag." 

Among her proposals is a new standard tax deduction for small businesses that she said would eliminate many forms and the need to tally up overhead costs like rent and phone bills. She also proposed quadrupling deductions for start-ups, working with states to cut licensing requirements and making it easier for community banks and credit unions to provide business financing.

Her campaign didn't provide any details about how many businesses might benefit from the changes or on cost, though they said some of the tax changes would be offset by revenue raised by her previously proposed overhaul of corporate tax laws

 "I believe when you succeed, families thrive and our nation prospers," Clinton said on the call. "But I also know that in lots of ways the odds are stacked against for too many times. It’s clear that big corporations get a lot of the breaks. It’s much harder for you to get a loan, to file taxes, to offer health care to your workers."

Clinton said she wants to help fix that with "commonsense policies" in which the Small Business Administration and other federal agencies treat entrepreneurs as their customers. "In America, if you dream it, you should be able to build it."

She peppered her remarks with attacks on Trump,  noting a history of complaints from contractors who say he stiffed them.

 

Clinton took part in the conference call while fundraising in California. Her running mate, Virginia Senator Tim Kaine, was pitching the proposals at a roundtable in Lakewood, Colorado.

Trump has proposed capping the business tax rate at 15 percent, which he argues would mainly benefit small businesses . Most of the tax plans he outlined during a speech Aug. 8 in Detroit  focused on lowering rates for individuals and changing the corporate tax structure.

(Updates with Clinton remarks beginning in first paragraph.)
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