NFIB research shows small businesses are seeing real relief thanks to the Tax Cuts and Jobs Act one year after it took effect.
A year after the passage of the Tax Cuts and Jobs Act (TCJA)—the first major changes to the tax code in more than three decades—small business owners say they’re seeing real relief.
A new NFIB survey, The Tax Cuts and Job Act One Year Later: Part II, captures small business owners’ reactions to the TCJA. Not only did most owners say they received a lower tax bill, but they also indicated they’re using their tax savings to grow their businesses.
NFIB also surveyed small business owners immediately after the passage of the TCJA in December 2017. That survey, Small Business Introduction to the Tax Cuts and Jobs Act: Part I, found owners were optimistic about the new reforms. Many made plans to invest in hiring, increase employee compensation, and reinvest in their businesses. The new survey, taken one year later, proves their plans have become a reality and their optimism remains strong.
Learn more about how the TCJA has strengthened small businesses in the infographic below. And be sure to tell your member of Congress to make the Small Business Deduction permanent.
