FOR IMMEDIATE RELEASE

BARRE, VT (April 15, 2026) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released a new report outlining the economic benefits and massive tax savings the 20% Small Business Tax Deduction will bring to the 81,949 small businesses in Vermont now that it has been made permanent. The report also details several other federal tax relief wins that were signed into law.

Additionally, Vermont is projected to gain 3,000 new jobs annually over the next 10 years if the deduction remains in place, including an annual GDP increase of $142 million for the first decade and $293 Million per year beyond 2035.

View the report for Vermont HERE.

“Tens of thousands of Vermont small businesses are benefitting from permanent federal tax relief because of the 20% Small Business Deduction,” said NFIB Vermont State Director John Reynolds. “Small business owners need tax relief and tax certainty, and making the Small Business Deduction permanent gave them much needed breathing room to continue investing in their business and employees. Small business tax reform means more jobs and more growth for Vermont.”

Since 2017, the Small Business Tax Deduction has allowed small businesses to deduct up to 20% of their business income. This has empowered them to grow, hire, invest in their employees, and give back to their communities. Without action by Congress, this essential tax deduction was set to expire at the end of 2025.

After being passed by Congress, President Trump signed legislation on July 4, 2025, making the Small Business Tax Deduction permanent. This permanent tax relief means America’s small businesses can use more of their hard-earned money to support their business and employees instead of sending it to their state and federal government. It also provides certainty and levels the playing field for small businesses against their large corporate competitors.

For more information about NFIB’s advocacy efforts and to access Vermont’s report, visit here.

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For over 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses, and remains so today. For more information, please visit nfib.com.