Obamacare & Taxes: Small Business Victory Update | NFIB
April 2016 — NFIB works hard to ensure small business has a seat at the table where key federal policy decisions are being made. Here, we highlight a few recent NFIB victories scored on behalf of you, America’s small business owners.
NFIB is the nation’s most powerful small business advocate and has won key victories thanks to the support from you and hundreds of thousands of other small business owners. Below is a list of victories from our Legal Center and Federal Public Policy teams.
Legal Center Victories:
- Legal Center listed as one of the top-ten most influential groups to file briefs in the U.S. Supreme Court by the SCOTUSblog.
- Responsible for obtaining a federal court decision that blocked a Department of Labor FLSA/overtime rule that would have impacted 44% of small businesses.
- Scored big wins in two major 2016 Supreme Court cases–striking down an unfair Clean Water Act ruling and upholding attorney’s fees awarded to a wrongfully accused employer.
- Filed over 50 amicus briefs in 2016, including 25 in the U.S. Supreme Court.
- Sued and stopped the U.S. Department of Labor from implementing the pro-union “persuader” reporting rule that would have limited small business access to labor attorneys.
- Obtained a U.S. Supreme Court emergency order to block the Environmental Protection Agency’s Clean Power Plan.
Government Related Victories:
- Permanently increased Section 179 small business expensing threshold to $500,000 from $25,000, and indexed threshold to inflation.
- Made the 2001 and 2003 tax cuts permanent for the vast majority of small business owners.
- Maintained the 15% tax rates on capital gains and dividends for the majority of small business owners.
- Made permanent the $5 million exemption for the estate tax, indexed for inflation, and prevented an increase in the tax rate from 40% to 45%.
Obtained new simplified deduction for home offices, allowing business owners the option of taking a standard deduction for home office related expenses.
Put the Brakes on the Administration
- Federal court temporarily blocked the Department of Labor from enforcing the new overtime rule, which would have raised the minimum salary threshold from $23,660 to $47,476 on December 1, 2016.
- The NLRB has abandoned an effort to make all private employers post a sign encouraging unionization.
- NFIB worked with EPA to make it easier and less expensive for farms to comply with the fuel containment rule.
- NFIB helped secure a delay of the 34-hour restart provision for small trucking companies, which makes driver scheduling easier and reduces needless off-duty time for drivers.
Stopped Costly Obamacare Penalties
Reduced IRS Reporting Requirements
- Repealed the expanded 1099 reporting requirementsfrom the healthcare
- Stopped the IRS from forcing businesses to reconcile their gross receipts with the new Form 1099K.
Repealed Harmful Provisions in Obamacare
- NFIB led an effort through Congress to get a bipartisan healthcare relief bill introduced, passed, and signed into law. This law reverses the IRS regulation that prohibits employers from directly paying for or reimbursing their employees’ individual market health insurance plans and the accompanying $100/employee/day penalties for small businesses.
- NFIB prevented premium increases and administrative burdens by delaying:
- the Cadillac Tax for two years until 2020
- the health insurance tax for one year (2017)
- the medical device tax for two years (2016-2017)
- NFIB repealed small business deductible limitations included in the healthcare
- Prevented mandatory federal expansion of small business insurance definition, avoiding further unnecessary premium increases for small and midsize businesses.
America’s small business owners are busy running their businesses. As the nation’s leading small business advocacy organization, NFIB is busy working hard in the effort to overcome the challenges you and hundreds of thousands of small business owners face on tax reform, ever-expanding government regulation, and healthcare. Below are a list of challenges from our Legal Center and Federal Public Policy teams.
Small Business Relief from Federal Healthcare Law
- NFIB was the only business organization to challenge the new healthcare law before the U.S. Supreme Court.
- The health insurance tax (HIT)increases average family premiums by $500 per year and cost up to 250,000 jobs.
- The individual mandate provisioncosts an individual an average of $5,046 per year.
Healthcare Reform for Small Business
- Put small business on the same playing field as big business.
- Improve healthcare access and affordability.
- Deductibility for the self-employed.
- Medical malpractice reform.
- Allow pooling across state linesto increase buying power.
Small Business Tax Relief
- Reduce marginal tax rates affecting small business owners.
- Repeal the estate tax.
- Stop proposed hikes to capital gains and dividend rates.
Kill Burdensome Regulation (IRS, EPA, DOT, DOL, NLRB & OSHA)
- There are 3,318 federal regulations in the pipeline, more than 250 of which directly impact small businesses.
- Fighting to stop the Waters of the U.S. rule to prevent the EPA from having the power to regulate local projects and business operations. The rule will result in higher permit fees, daily fines of up to $37,500 and increased red tape.
- Fighting to permanently stop damaging changes to the federal overtime rule.
- Fighting to stop new joint employer standard, which changes contractor-subcontractor liability.
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