Media Advisory: NFIB’s Jeff Brabant to Testify Before Senate Finance Committee

September 11, 2024 Last Edit: June 5, 2025

Media Advisory: NFIB’s Jeff Brabant to Testify Before Senate Finance Committee

WASHINGTON, D.C. (Sept. 11, 2024) – Tomorrow, Jeff Brabant, NFIB Vice President of Federal Government Relations, will be testifying before the U.S. Senate Committee on Finance at a hearing titled, “The 2025 Tax Policy Debate and Tax Avoidance Strategies” at 10:00 a.m. ET. Brabant will deliver testimony on why it’s critical for Congress to make the 20% Small Business Deduction permanent and avoid a massive tax hike on 9 out of 10 small businesses. “The creation of the 20% small business deduction has been crucial to the survival of small business owners. Since its passage, the small business economy has endured a plethora of issues including a pandemic that closed many businesses for long periods, record inflation, and a historically tight labor market. This deduction empowered small business owners and allowed them to not only survive these difficult times but to thrive,” said Brabant. “However, small business owners are now confronted with a new reality, if Congress fails to act the 20% small business deduction will expire at the end of 2025 and over 90% of small business owners will see a significant tax increase. These small business owners will not be absorbing this increase in a vacuum. They will be absorbing it at a time when their larger C-corporation competitors will not be seeing a tax increase, and at a time when inflation remains hugely problematic for small employers.” “The decisions Congress makes reflect the values of a Congress. Over the next year, Congress will debate the merits of extending over $4 trillion worth of tax provisions. Members of Congress should ask themselves if they really believe it when they say, “Small Businesses Are the Backbone of America.” If they truly believe that statement and value small businesses in their communities, then making the 20% small business deduction permanent be an easy decision.” Thursday, September 12, 2024 10:00 a.m. ET. The hearing will be streamed on the U.S. Senate Committee on Finance website, here.

Topics:

Taxes

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