What it means: NFIB released a new video explaining the impact of the 20% Small Business Tax Deduction and why it needs to be made permanent.

Our take: “If Congress fails to act, 33 million small businesses will face a massive tax hike at the end of 2025. Not making the Small Business Deduction permanent would limit small employers’ ability to grow, hire new workers, provide for their employees, and give back to their community. The ripple effect of this financial hit will be nationwide,” said Jeff Brabant, NFIB Vice President of Federal Government Relations.

Take Action: Join other small business owners on NFIB’s number one priority to make the 20% Small Business Deduction permanent.

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Small businesses are the foundation of the American economy. At the end of this year, nine out of 10 small businesses will face a massive tax hike if the 20% Small Business Tax Deduction expires. NFIB released a new video explaining how the expiring deduction works and the positive effects if Congress makes it permanent by passing the Main Street Tax Certainty Act.

The video explains how this crucial deduction helps Main Street with the purpose of leveling the playing field between small businesses and their large corporate competitors. It helps empower small businesses to overcome economic challenges, but it’s set to expire at the end of 2025.

To learn more, watch the new NFIB Small Business Deduction explainer video and visit NFIB’s website for the latest news on the legislation to make the deduction permanent.