February 5, 2025
NFIB’s VP of Federal Government Relations joined Bloomberg’s Talking Tax Podcast
What it means: NFIB VP of Federal Government Relations Jeff Brabant discussed the benefits of making the 20% small business deduction permanent on Bloomberg’s Talking Tax Podcast
Our take: “In 2021, 26 million small businesses used the 20% Small Business Deduction. Those are just small businesses as defined by the Small Business Administration. It has been very beneficial to small business owners.” – NFIB’s VP of Federal Government Relations Jeff Brabant
Amplify the small business message for Congress to make the 20% Small Business Deduction permanent and ease small business uncertainty by sending a message to your lawmakers in Washington, DC.
Created in 2017, the 20% Small Business Deduction (Section 199A) allows small businesses organized as pass-through entities to deduct up to 20% of qualified business income. It is meant to bring small businesses’ tax rates closer to those of their larger corporate competitors. NFIB VP of Federal Government Relations Jeff Brabant joined Bloomberg Tax reporter Zach Cohen to discuss the importance of making this deduction permanent to avoid a massive tax hike on over 30 million small businesses in America, scheduled to happen at the end of this year.
Brabant details how small business owners will react if Congress allows the deduction to expire. “NFIB surveyed [our members] earlier this year and asked, ‘What would you do if this tax deduction goes away?” And what the small business owners in the survey said is over 60% would increase prices, over 40% would delay or cancel capital investments, and over 20% would have to reduce compensation,” said Brabant.
Take Action and tell Congress to stop the massive tax hike and make the 20% Small Business Deduction permanent.
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
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