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Virginia House Passes Important Small Business Tax Relief Hours After NFIB Small Business Day

Virginia House Passes Important Small Business Tax Relief Hours After NFIB Small Business Day

January 27, 2023

Virginia Small Business Day 2023: Members Engage With Legislators, Make Voice Heard

Virginia House Passes Important Small Business Tax Relief Hours After NFIB Small Business Day

Hours after Gov. Glenn Youngkin spoke at NFIB’s Small Business Day, the House of Delegates passed an important tax relief bill that will help struggling small business owners recover from not only the pandemic, but economic challenges including supply chain issues, inflation, and problems hiring workers.

“Just hours after Gov. Glenn Youngkin appeared at NFIB’s Small Business Day, where members met with delegates to make their voices heard on passing tax relief for small business owners, the House of delegates passed his $1 billion tax relief program. This key piece of legislation will help entrepreneurs across the state continue to recover from the pandemic and economic challenges like supply chain issues, problem hiring workers and inflation. Small business owners are encouraged with this process but know there’s a long road ahead to get it passed. Let’s continue the momentum to make sure Virginia’s economy keeps running,” NFIB State Director in Virginia, Julia Hammond. The bill would provide a qualified small business deduction of 10% of qualified business income can be used on tax returns, which allows small business owners to keep some of their hard earned money as they continue to recover from the pandemic and face challenges like supply chain issues, inflation and problems hiring workers. 

“Small business really suffered during the last 3 years, disproportionately to all kinds of businesses. There were prevalent labor shortages and the previous administration shut us down on day one. My administration is working to address this lingering challenge and use Virginia’s many attributes to advantage small business in Virginia,” said Gov. Glenn Youngkin.

Nathan Humphrey, NFIB Region Director, Tim Goodrich, NFIB Vice President of Government Affairs and NFIB member Melissa Ball met with Gov. Glenn Youngkin shortly before his speech.

Also stopping by to speak to NFIB members were Lt. Gov. Winsome Earle-Sears, Secretary of Labor Bryan Slater, Secretary of Commerce Caren Merrick, Speaker of the House Todd Gilbert and Delegate Kathy Byron.

Lt. Gov. Earle-Sears told the crowd she understands how important an NFIB membership is and pledged to always keep small business owners on her priority list.

NFIB members Paul Zimmerman and his son-in-law John Wenger met with Del. Runion. During their visit, Zimmerman shared challenges he has had with a regulation that is preventing him from opening a “retail exempt” store, to be located on his property, to sell his meat, locally, not across state lines. Mr. Zimmerman has done a lot of legwork, trying to be compliant and follow the law. Zimmerman told Del. Runion that he doesn’t mind regulations, and he wants to be in compliance. However state government staff had told him he was approved but he has not received written confirmation, possibly due to staff turnover. Del. Runion promised Zimmerman that he would make a call and send a letter to hopefully receive an answer for Zimmerman’s small business challenge.  

From left, NFIB member and legislator Del. Chris Runion met NFIB members Paul Zimmerman and John Wegner of Redbanks Custom Cuts as well as NFIB member Jim Wilson of Wilson Law Group of Richmond and NFIB Grassroots Director Jessica Cooper.

  NFIB member Cheryl Spraberry met with Angela Williams Graves, member of the House of Delegates. Williams Graves, also a small business owner and new to the House of Delegates, promised to work with NFIB in the future. Spraberry shared the challenges she faces at her business, AIT Marine and Surge Force, LLC, which work together to provide jobs and repair Navy ships that service our country. Spraberry, who used to have dozens of people every day knock on her door asking for jobs, told Williams Graves that she doesn’t remember the last time someone asked for employment. Right now she has about 160 workers, and wants to hire 40 more – but can’t find anyone to fill those jobs. Williams Graves promised to work with Spraberry to find a solution to the workforce problems that small business owners across the state are facing right now.

NFIB member Cheryl Spraberry meets with Delegate Angela Williams Graves.

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