NFIB Iowa State Director Matt Everson highlights latest NFIB report and efforts at the statehouse to cut Iowans’ income taxes.
In a conversation with Simon Conway, NFIB State Director Matt Everson discussed the findings of the latest Small Business Economic Trends (SBET) report and gave an update on what lawmakers are working on at the statehouse.
While highlighting the findings of the SBET report, Everson warned that inflation continues to take a serious toll on small business owners.
“For the 27th straight month, optimism is below our 50-year average,” Everson said. “In fact, we’ve hit a 12-year low. We haven’t been this low since 2012. Our small businesses are feeling the pinch of the economy and they’re not feeling optimistic about the future.”
When asked about Iowa’s local economy and what lawmakers are doing to alleviate inflation, Everson highlighted some of the efforts by lawmakers to accelerate income tax cuts.
“I think we’ll see another income tax package come down that will accelerate the rates and cut some down the road past 2026. And I think we might even see the Governor’s unemployment tax relief package go through, which will be a significant win for small businesses as far as the cost of doing business in Iowa […] saving almost $800 million for small businesses over five years.”
Finally, Everson talked about making the federal 20% small business deduction permanent and the need to reform property taxes in the state.
CLICK HERE to listen to the full conversation. CLICK HERE to tell your lawmaker to make the small business tax savings permanent.
