What it means: NFIB’s President discussed the organization’s long-term efforts to stop the massive tax hike on 9 out of 10 small businesses by making the 20% Small Business Deduction for pass-through businesses permanent. Currently, it is set to expire at the end of 2025.

Our take: NFIB is focusing on this key issue to educate as the expiration date nears for the 20% Small Business Deduction is to keep getting small business owners in front of lawmakers to explain the benefits they have seen for their business.

Take Action: Add your name to NFIB’s petition and join over 95,000 others urging Congress to make the 20% Small Business Deduction permanent.

Small businesses are the foundation of the American economy. But next year, nine out of 10 small businesses will face a massive tax hike because the 20% Small Business Deduction – line 13 on your IRS Form 1040 – is set to expire at the end of 2025. NFIB President Brad Close was interviewed by Punchbowl News about what NFIB is planning next for the tax fight.

Close laid out a simple strategy: ensure there is not a massive tax hike on small businesses at the end of 2025. He explained that NFIB will do so by:

• Maintaining a singular focus: Making the 20% Small Business Deduction permanent remains the top advocacy priority for NFIB. NFIB consistently pushes for its permanency by gathering petition signatures from small business owners nationwide, which now includes 80,000 signatures.
• Educating members of Congress: With a new Congress coming in January, continuing to educate lawmakers on the issue is crucial. NFIB is focused on continuing to schedule meetings between members and their lawmakers.
• Targeting lawmakers back home: Whenever Members of Congress return to their districts or states, that is a great opportunity for small business owners to host events and explain what they have been able to do for their small business, employees, and community with the 20% Small Business Deduction.

Close said NFIB is planning more events and tours of businesses for lawmakers as the tax fight approaches its expiration date, along with other grassroots-based strategies including having small business owners share their stories. Register for The Hill’s webinar to hear from small business leaders, tax experts, and policymakers as they delve into the potential consequences of the deduction expiring.

Take Action: Add your name to NFIB’s petition and join over 95,000 others urging Congress to make the 20% Small Business Deduction permanent.