NFIB released a new Small Business Rundown podcast episode featuring Brandon Pizzola, a partner with the Quantitative Economics and Statistics Practice at EY, sharing the EY analysis of the economic impact if Congress protects the 20% Small Business Deduction from expiring.    

The recent EY (formerly Ernst & Young) macroeconomic analysis, released in conjunction with NFIB, shows that making the deduction permanent will create more than 1.2 million jobs and increase the GDP by $75 billion every year for the next 10 years, and would continue to do so beyond its first ten years. “Not only does making this deduction permanent increase jobs and the GDP, but the return on investment goes up, productivity goes up, and then the overall productive capacity of the economy increases,” said Pizzola. 

Toward the end of the podcast, NFIB had four members share how the Small Business Deduction has empowered their businesses and communities. 

• Beth Booth, Space is Renewed, California – “There has been growth at a level where we can invest in the business and local economy.” 

• Neil Abramson, ECI stores, Massachusetts – “Long-term employees can watch their savings grow. The store has been able to grow its footprint.” 

• Candace Price, co-owner, Home Team Auto Sales, Nebraska – “It has enabled us to expand and buy equipment.” 

• Michael Irvin, owner, Coal River Coffee Company, West Virginia – “We’ve put tax savings back in the community.” 

Other recent Small Business Rundown episodes cover topics including: 

• Beneficial Ownership Reporting 

• Tips to Grow Your Social Media Prescence 

• Taxes, Regulations, and Small Business Priorities 

Visit https://www.nfib.com/SmallBusinessRundownPodcast/ to hear these episodes and more on issues that matter to small businesses.