WASHINGTON, D.C. (November 25, 2023) – This weekend, FOX Business published a new op-ed from NFIB President Brad Close on the importance of this year’s Small Business Saturday and the urgency for Congress to give small businesses a level playing field with big business. Close notes that there are three commonsense principles that Congress should pass immediately to provide economic certainty for Main Street.
“This year, Small Business Saturday is especially important. Main Street still needs your support by shopping local, but it also needs you to raise your voice and send a message to Congress: It’s time to give small businesses a level playing field with big business.
Just like families across America, small businesses are facing tough economic headwinds, especially from the soaring costs that come with inflation. They’re also dealing with continued supply chain snarls, which drive up the cost of goods, too. And the non-stop deluge of red tape from Washington, D.C. makes running a small business more expensive than ever.
This Small Business Saturday, please shop at every Main Street store you can. But please go a step further, too. Tell your representatives and senators that if Congress doesn’t stand up for small businesses, countless community businesses will be at an even bigger disadvantage against big business.”
Read the full op-ed here: https://www.foxbusiness.com/small-business/small-business-saturday-main-street-needs-support-your-voice
Close mentions in the op-ed the need to make the 20% Small Business Deduction (Section 199A) permanent. It allows small businesses organized as pass-throughs (S corporations, LLCs, sole proprietorships, or partnerships) the ability to deduct up to 20% of qualified business income and is scheduled to expire in 2025. The Main Street Tax Certainty Act, which would make the 20% Small Business Deduction permanent, was introduced in the U.S. Senate by Senator Steve Daines (R-MT) and in the U.S. House by Representatives Lloyd Smucker (R-PA) and Henry Cuellar (D-TX).
During the August recess, NFIB ran a multi-state issue campaign using video, radio, and digital ads to encourage members of Congress to pass the Main Street Tax Certainty Act.