NFIB, the nation’s leading small business advocacy organization, today launched a statewide ad campaign urging Sens. Joe Manchin and Shelley Moore Capito to support the Main Street Tax Certainty Act, federal legislation that would make the 20% Small Business Deduction permanent. The deduction is set to expire in 2025.
“West Virginia’s small businesses have had a rough few years, beginning with the pandemic and continuing with the labor shortage and inflation that has driven up the price of everything from raw materials to rent,” NFIB State Director Gil White said.
“If the 20% Small Business Deduction is allowed to expire, the economic impact would force small businesses to cut back on hiring and slow any plans they might have had to expand,” White said.
The 20% Small Business Deduction (Section 199A) allows 9 out of 10 small businesses to deduct up to 20% of qualified business income.
“On behalf of our West Virginia small business members, I urge Senators Manchin and Capito to support this legislation and clear the path for small businesses to continue to grow and create jobs.”
Click here to listen to the 30-second radio ad. Read the transcript below:
Small businesses are the backbone of West Virginia’s economy. From inflation to worker shortages, Main Street has faced challenge after challenge. And now, a massive tax hike on West Virginia small businesses is right around the corner. This tax increase would hurt nine out of 10 small businesses, and lead to job losses and an economic slowdown. West Virginia needs Senators Joe Manchin and Shelley Moore Capito to support the Main Street Tax Certainty Act and make the twenty percent Small Business Deduction permanent. Visit Small Biz Deduction dot com to get the facts and help West Virginia small businesses. Paid for by the National Federation of Independent Business.
