Holly Wade, Executive Director of NFIB’s Research Center, was in Omaha last week, where she spoke with 1110 KFAB’s Scott Voorhees about the state of the small business economy before attending a luncheon with NFIB members and local job creators.

While speaking with Voorhees in-studio, Wade urged Congress to pass the Main Street Certainty Act, legislation that makes the 20% Small Business Deduction permanent.

“Small business owners are inundated with taxes on a federal, state, and local level oftentimes. And in the Tax Cuts and Jobs Act we were able to pass a 20 percent, small business deduction on qualifying income. However, that sunsets in a couple of years. The elimination of that tax deduction would be a huge problem for small business owners, especially in this environment of high inflation to absorb another cost increase.

“That’s one of our main efforts is to make that tax deduction that’s specific to small firms, permanent, so they can rely on that for not increasing their taxes going forward.”

CLICK HERE to listen to the full conversation.

During the luncheon, Wade participated in a Q&A with NFIB members and local job creators, where they discussed ongoing challenges with inflation, supply chain disruptions, and labor market, among other issues.

NFIB advocates on behalf of small business owners in Washington, D.C., Lincoln, and in all 50 statehouses across the country. The luncheon comes on the heels of a webinar with Sen. Lou Ann Linehan, who was instrumental in cutting small business owners’ taxes at the state level.

WATCH: NFIB Nebraska 2023 Legislative Session Wrap-Up Virtual Event

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