June 23, 2025

NFIB’s 2025 Fly-In included a session with top White House Economist Kevin Hassett

What it means: Kevin Hassett, Director of the White House National Economic Council, and Holly Wade, Executive Director of the NFIB Research Center connected with NFIB members and small business owners to discuss the state of the economy and key issues facing small businesses at NFIB’s annual Fly-In, in Washington, D.C. 

Our take: NFIB’s top priority that will have a huge economic impact is permanently extending the Small Business Tax Deduction. Research shows a $75 billion increase in U.S. GDP each year for the first 10 years if the deduction is made permanent.  

Take Action: The Small Business Deduction is set to expire at the end of the year and could lead to a massive tax hike if Congress doesn’t act fast. 

Each year, NFIB members are invited to the nation’s capital to make their voices heard and advocate for the policies that most affect their small businesses. During one panel at the NFIB Fly-In, Director of the White House National Economic Council Kevin Hassett joined Executive Director of the NFIB Research Center Holly Wade to lay out the highlights of the One Big Beautiful Bill Act, along with the priorities of the current administration and implications future legislation might have for small business owners.  

Hassett projects that the income for the typical family will increase by $6,400 as a result of the One Big Beautiful Bill Act, with a continued increase to between $8,000-$13,000 in the coming years. He also addressed the state of major economic concerns like inflation, trade, and tariffs and what that might look like for small businesses going forward, along with plans for significant deregulation to help alleviate regulations impacting small business operations. 

NFIB continues to advocate for key issues like the Small Business Tax Deduction and repealing Beneficial Ownership Information reporting, which is crucial in limiting harmful regulations and propelling the growth of small businesses.  

TAKE ACTION: Join the fight alongside over 100 NFIB members who met with lawmakers on Capitol Hill. Amplify their voice on these key issues.