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Cortez Masto, Rosen Asked to Support Main Street Tax Certainty Act

August 10, 2023

Cortez Masto, Rosen Asked to Support Main Street Tax Certainty Act

FOR IMMEDIATE RELEASE Contact: Tray Abney, Nevada State Director, tray@abneytauchen.com or Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org CARSON CITY, Nev., Aug. 10, 2023—The nation’s leading small-business association today launched radio ads in the Reno-Carson City market with accompanying social media posts throughout the state asking U.S. Sens. Catherine Cortez Masto and Jacky Rosen to support the Main Street Tax Certainty Act, which aims to keep the Small Business Deduction from expiring in 2025. The 20% Small Business Deduction (Section 199A) allows pass-through small businesses the ability to deduct up to 20% of qualified business income. “If Congress takes no action, the 20% Small Business Deduction will expire in 2025, imposing a massive tax hike on a majority of America’s small businesses. While Members of Congress are back in their states and districts in August, small business owners want them to understand the importance of making the 20% Small Business Deduction permanent,” said Brad Close, NFIB President. “Despite economic headwinds, small employers are poised to lead an economic comeback, and Congress has an opportunity to provide much-needed tax certainty, allowing them to grow and invest in their businesses. We are encouraged that this important legislation has been introduced in both the U.S. Senate and House and urge Congress to pass it this Congress.” The Act was introduced in the U.S. Senate in May, followed by a bipartisan House version in July. More about both bills and why the Act is vital for America’s small businesses can be read from this NFIB news release. “There is no other local, state, or federal initiative more important for the nation’s small businesses than passing the Main Street Tax Certainty Act,” said Tray Abney, Nevada State Director for the National Federation of Independent (NFIB), which successfully lobbied for the small business deduction’s inclusion in the 2017 Tax Cuts and Jobs Act and which today launched the ad campaign. “As the ad warns, Main Street enterprises are staring down the barrel of massive tax increases right around the corner if the Main Street Tax Certainty Act isn’t passed. Nothing Sens. Cortez Masto or Rosen can say or do will show their support of Nevada’s small business more than how they vote on the Main Street Tax Certainty Act. If for no other reason, Sens. Cortez Masto and Rosen should support the Act as a matter of fairness. None of the tax relief big businesses and large corporations gained under the Tax Cuts and Jobs Act of 2017 had an expiration date. Small businesses have until 2025 before theirs do.” The 30-second radio can be heard here. More information about the Small Business Deduction can be read here and at www.smallbizdeduction.com. Keep up with the latest Nevada small-business news at www.nfib.com/nevada or by following NFIB on Twitter @NFIB_NV. ### For almost 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com. NFIB Nevada Abney Tauchen Group 775-443-5561 Reno, NV NFIB.com/NV Twitter: @NFIB_NV

Topics:

Taxes

State:

Nevada

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Cortez Masto, Rosen Asked to Support Main Street Tax Certainty Act

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