Small Businesses Deserve More Than $50,000 Tax Credit

Sharifah Hardie for California Governor 2026

Sharifah Hardie calls Kamala Harris’s $50,000 tax credit for small businesses a hollow promise, urging real solutions to revive the economy.

LONG BEACH, CA, UNITED STATES, September 11, 2024 /EINPresswire.com/ — In response to the September 10th presidential debate between Donald Trump and VP Kamala Harris, Sharifah Hardie, Candidate for California Governor, expressed concerns about the economic promises made on the debate stage, particularly regarding Harris’s $50,000 tax credit proposal for small businesses.

“Many people hear $50,000 and think it will help, but what they may not realize is that this comes in the form of a tax credit, not a check. Small businesses need immediate support to survive,” said Hardie. “Businesses are drowning, and a future tax credit will not save them.”

The U.S. economy is facing an unprecedented number of business failures in 2024. As of June 30, 2024, 346 companies had filed for bankruptcy, marking the highest number of filings in the first half of the year since 2010. These filings reflect the grim reality that both small and large businesses are encountering—64.45% of these filings were Chapter 11 reorganizations, a sharp rise from 54.74% in 2023. Meanwhile, 35.55% were Chapter 7 liquidations, where businesses sell their assets to pay creditors.

“These statistics paint a clear picture of an economy in crisis,” Hardie emphasized. “Small businesses don’t have the luxury of waiting for a tax credit that may or may not help them in the future—they need access to capital now to survive.”

According to U.S. Courts, the total number of bankruptcy filings in the year ending June 30, 2024, was 486,613—a 16.2% increase from the previous year. Business filings alone surged 40.3% to 22,060, up from 15,724 in 2023. Non-business filings also climbed 15.3% to 464,553, further underscoring the nationwide financial strain.

“We are witnessing a devastating wave of bankruptcies. These numbers highlight how dire the situation truly is,” Hardie said. “People are suffering, businesses are closing, and Harris’s promise of a $50,000 tax credit simply doesn’t match the urgency of the economic challenges we’re facing.”

As Donald Trump pointed out during the debate, the U.S. economy is in significant trouble. Companies such as Big Lots, Avon, Macy’s, Buca di Beppo, Blink Fitness, Chicken Soup for the Soul, 99 Cents Only, Family Dollar, Smile Direct Club, WeWork, Rite Aid, Party City, Red Lobster and hundreds more are among the major corporations closing locations as bankruptcy filings continue to rise at an alarming rate.

Sharifah Hardie, running for California Governor, believes that leaders need to act now with real solutions that will bring immediate relief to both businesses and consumers. “I am focused on real policies that will support businesses—big and small—and create jobs,” Hardie stated. “We cannot—no, we must not—be swayed by hollow promises of tax credits that will arrive too late. What we need is a plan that revives our economy, strengthens small businesses, and provides jobs that sustain families.”

In fact, on August 18th, Sharifah Hardie released her “California Forward” plan, outlining a comprehensive strategy to address the state’s challenges. “California needs a proactive and comprehensive strategy to overcome its challenges,” Hardie emphasized. “The ‘California Forward’ plan offers practical solutions that address the core issues facing our state and works towards a safer, more prosperous future for all.”

Highlights of the “California Forward” plan include:

– Enhanced Public Safety: Increased funding for local law enforcement, modern technology for crime prevention, and expanded victim support services.

– Economic Growth Strategies: Business incentives, job training programs, and regulatory reforms to foster job creation and attract investments.

– Addressing Social Inequality: Expanded funding for education and affordable housing, with boosted investment in mental health and youth services.

– Transparent and Accountable Leadership: Emphasis on open communication and responsiveness to the needs of all Californians.

With this comprehensive plan, Hardie is committed to not only addressing the needs of California but also bringing immediate solutions to the national economic crisis. “We must act swiftly and decisively to ensure a safer, more prosperous future for everyone,” she concluded.

To support Sharifah Hardie for California Governor visit: https://secure.winred.com/sharifah-hardie-for-ca-governor-2026/donate-today

For more information about Sharifah Hardie’s “California Forward” plan and other campaign initiatives, please visit https://www.SharifahHardieForGovernor.com or contact 562-822-0965 to interview Sharifah Hardie.

About Sharifah Hardie:

Sharifah Hardie is a gubernatorial candidate committed to bringing transformative change to California. With a focus on improving public safety, stimulating economic growth, and addressing social inequalities, Hardie is dedicated to leading California toward a more secure and equitable future.

Sharifah Hardie
Sharifah Hardie for CA Governor
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