What it means: NFIB President Brad Close joined The Lars Larson Show to discuss the importance of making the 20% Small Business Deduction permanent.

Our take: “We’re talking about small business owners’ money; this isn’t the government’s money. And what this tax provision does, this 20% Small Business Deduction, lets you and every other small business owner keep more of their own hard-earned money in the business and put it to good use,” said NFIB President Brad Close.

Take Action: You can help stop a massive tax hike set to hit nine out of 10 small businesses at the end of 2025. Urge your elected officials to make the 20% Small Business Deduction permanent.

The 20% Small Business Tax Deduction protects small businesses’ rights to hire, grow their business, and give back to their communities. This crucial tax relief is set to expire at the end of 2025. NFIB President Brad Close joined The Lars Larson Show to highlight how the Small Business Deduction grows the economy, creates jobs, and why Congress should protect small businesses by making it permanent.

Close details the significant economic growth the deduction would provide if made permanent, emphasizing the financial gains it would grant small businesses. “So, actually, if this tax cut is made permanent, EY…did a survey and it showed if you make this permanent, you’re going to add $750 billion to the economy. Now, that’s obviously going to generate a fair amount of tax revenue into the federal government. It’s also going to add about 1 million, 1.2 million jobs a year as well, which again, keeps that revenue growing as people’s incomes go up and new jobs are created,” said Close. Join the fight and urge your lawmakers to make the 20% Small Business Deduction permanent and stop a massive tax hike on millions of American businesses.