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NFIB Members Engage Congressman Kustoff on 20% Small Business Deduction

NFIB Members Engage Congressman Kustoff on 20% Small Business Deduction

October 4, 2024

News

NFIB Members Engage Congressman Kustoff on 20% Small Business Deduction

 U.S. Rep. David Kustoff with NFIB members Trey Watkins and Patricia Jones.

Congressman David Kustoff (8th District) hosted a roundtable discussion in Memphis with small business owners from his district earlier this week. Several NFIB members used the opportunity to relay specific concerns if the 20% Small Business Deduction (Section 199-A) expires at the end of next year.

NFIB member Patricia Jones with Jones Contractors Inc. in Henderson said her company has added 20 jobs a year because of the deduction and it would be “devastating” to their business, employees and rural community if it were to go away.

NFIB member Patricia Jones speaks to U.S. Rep. David Kustoff about the 20% Small Business Deduction.

“The deduction has directly enabled us to create new jobs, increase employee benefits, and generate more opportunities to invest in needed equipment to grow and sustain our operations,” Jones said. “In fact, we were able to expand services that our company provides to the community by adding a line locating company to our business.”

NFIB member Trey Watkins, a CPA with Watkins Uiberall, said continuance of the deduction is the most important provision of the Tax Cuts & Jobs Act (TCJA) of 2017 for his clients, when asked by the congressman.

NFIB member Jeff Adkins with Sports Clips talked about the importance of the tax credit on tips, which others in the hospitality field echoed. Several leaders in the farming community thanked the congressman for fighting to keep the $5 million estate tax exemption, another TCJA provision set to expire.

Congressman Kustoff, noting only 84 House Republicans were in office when the TCJA was enacted, encouraged participants to continue their active education efforts with both Republicans and Democrats in Congress.

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