On issues ranging from taxes to healthcare to regulations, NFIB continued to go to bat for small business in Washington in 2015.
1. We made small business expensing permanent.
NFIB scored a huge tax victory for small business by spearheading the effort for a permanent extension of Section 179 expensing, resulting in the passage of the Protecting Americans from Tax Hikes (PATH) Act. To remain competitive, business owners must be able to invest in new technology and upgraded equipment when necessary. Under Section 179, small businesses can deduct $500,000 of qualified assets—like new equipment—each year from their taxes. This improves cash flow, allowing business owners to hire new workers, purchase additional business assets or bolster cash reserves. The legislation not only permanently raised the small business expensing threshold to $500,000, it also indexed the amount to inflation, among other improvements. This ended the cycle of uncertainty for small business owners who want to invest in and grow their business.
2. We forced Obama to break out his veto pen.
That’s how he responded to two major pieces of legislation NFIB shepherded through the House and Senate: the Keystone XL Pipeline Approval Act and the disapproval of the National Labor Relations Board’s (NLRB’s) ambush election rule.
3. We helped limit Obamacare overreach.
NFIB led the lobbying effort for the Protecting Affordable Coverage for Employees Act (PACE), which prevents the Affordable Care Act’s mandatory expansion of the small business health insurance definition and blocks further premium increases for small and midsize businesses. PACE was approved by Congress and signed into law by Pres. Barack Obama in October 2015.
4. We gave voice to small business concerns by testifying in front of Congress—10 times in 2015 on the following topics:
- The NLRB’s harmful election rule
- Mandatory penalties for frivolous lawsuits
- The Affordable Care Act’s toll on small biz
- Taxes, which are holding back small business growth
- Regulatory reform, including environmental rules
- Tax compliance burdens for small businesses
- Support of the Fraudulent Joinder Prevention Act of 2015
Learn more about how NFIB is fighting for you at NFIB.com/Advocacy and keep up with our wins at NFIB.com/Victories.
