NFIB climbed mountains for members in 2016, with peak wins on taxes, healthcare, regulations, and more. Here were the biggest victories.
Cadillac tax delayed
A 40 percent excise tax on employer-sponsored health insurance plans that exceed $10,200 (employee-only plans) and $27,500 (family plans) was set to go into effect in 2018. NFIB successfully lobbied for a two-year delay. In addition to paying the Cadillac tax, employers will be responsible for calculating the tax and reporting it to their health insurer and the IRS. We’re continuing to lobby for further relief.
Small Business Healthcare Relief Act passed
NFIB fought to overturn IRS guidance that prohibited the direct payment or reimbursement of employees’ individual market health insurance plans. The law now protects small businesses from $100 per employee per day penalties and allows businesses with fewer than 50 employees to reimburse up to $4,950 for employee-only plans and $10,000 for family plans that employees purchase on their own. NFIB will continue to fight to improve and expand this protection.
Small business expensing permanent
Under U.S. tax code Section 179, businesses can depreciate assets the same year they’re purchased. By deducting a certain amount of expenses from their tax burden, owners have improved cash flow to invest in their companies. With the help of 10,000 letters and emails sent to Congress from NFIB members, small business expensing is now permanent at $500,000.
Visit NFIB.com/Advocacy to keep up with our efforts to fight for small business.