November 6, 2024
Member Op-Eds: The Importance of Stopping the Massive Tax Hike
Two NFIB member op-eds published in Pennsylvania and Maine newspapers
What it means: Small business owners are facing a massive tax hike if Congress fails to make the 20% Small Business Deduction permanent. Last month, two NFIB members had op-eds published explaining the need for Congress to act
Our take: The 20% Small Business Deduction was created to level the playing field between small businesses and larger corporations. Without action from Congress, there will be a massive tax hike on America’s 33 million small businesses.
Take Action: Tell Congress to stop the massive tax hike on small businesses.
With the expiration of the 20% Small Business Deduction rapidly approaching, NFIB members are doing everything they can – including writing op-eds – to make it clear that Congress needs to stop the massive tax hike by making the deduction permanent.
The Pittsburgh Post-Gazette published an op-ed by Jeffrey Wakeen, owner of Wakeen & Company and an NFIB member business in Harrisburg. He explains the importance of the Small Business Deduction and why Congress should make it permanent before it expires in 2025.
“Both Republicans and Democrats must fight to save Main Street. They can still bicker about what to do with other taxes, but when it comes to small businesses, they all need to support tax cuts.”
The Portland Press Herald published an op-ed by Cathy DeMerchant, President and co-owner of Capital Area Staffing Solutions in Maine, an NFIB member business in Augusta. She explains how the 20% Small Business Deduction has helped not only her business but her employees and the community.
“At the heart of this coming crisis is the Small Business Deduction, a vital component of the federal tax cut law enacted in 2017. This deduction allows over 90% of small businesses to save 20% of our income on our tax returns, enabling us to compete with larger corporations. Without it, we’ll be at a significant disadvantage. Yet small businesses are essential drivers of innovation, job creation, and community engagement. As small businesses, we generate the majority of new jobs and play active roles in our local communities. We need this relief to keep making a meaningful impact.”
Take Action: Help stop the massive tax hike by telling Congress to make the 20% Small Business Deduction permanent.
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.