NFIB highlights top legislative priorities for small businesses in 2024
WASHINGTON, D.C. (Feb. 21, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released its “Top 10 Policy Priorities for 2024.” From burdensome reporting requirements to detrimental tax hikes, this list outlines the key legislative issues that will impact small businesses nationwide in the coming year.
“Main Street businesses have faced unprecedented economic headwinds in recent years, from record-breaking inflation to a historic labor shortage,” said Jeff Brabant, NFIB Vice President of Federal Government Relations. “Despite these challenges, small business owners persist in their efforts to provide for their customers, employees, and communities. But excessive regulatory hurdles, looming tax hikes, and ever-rising operating costs threaten to make it harder than ever for small businesses to grow and thrive. Now is the time for Congress to address the key issues impacting Main Street and prioritize pro-small business legislation like the Main Street Tax Certainty Act and other policies that will strengthen the small business economy.”
The small business community asks legislators to:
1. Make the Small Business Deduction permanent.
2. Stop issuing unnecessary, burdensome regulations.
3. Increase competition in the credit card network marketplace and stop mega banks and credit companies from using anti-competitive practices that hurt small businesses.
4. Prevent taxes from increasing on small business owners.
5. Reduce small business health care costs and burdens.
6. Stop the Financial Crimes Enforcement Network’s burdensome and invasive small business ownership registry.
7. Give small business owners the information they need to have the right to repair products for consumers.
8. Pass legislation to reduce energy costs for small business owners.
9. Repeal the $600 reporting threshold for third-party payment apps like Paypal and Venmo.
10. Reform the regulatory process to ensure that the administration is considering the unique needs of small business owners.
View NFIB’s Top 10 Policy Priorities for 2024 here.
