NFIB President Brad Close Joins KCBS-AM San Francisco, Discusses Campaign to Stop Major Tax Hike on California Small Businesses

August 17, 2023

NFIB President Brad Close Joins KCBS-AM San Francisco, Discusses Campaign to Stop Major Tax Hike on California Small Businesses

FOR IMMEDIATE RELEASE Contact: John Kabateck, California State Director, John@Kabstrat.com or Tony Malandra, Senior Media Manager, Anthony.Malandra@nfib.org SACRAMENTO, Calif., Aug. 17, 2023—Brad Close, President of the National Federation of Independent Business (NFIB), the nation’s leading small business trade association, yesterday explained to KCBS-AM listeners in San Francisco why Congress:

needs to pass the Main Street Tax Certainty Act

make the Small Business Deduction permanent

and help stop the largest tax hike on small businesses in California.

Listen to the interview here. The 20% Small Business Deduction (Section 199A) allows small businesses organized as pass-throughs (S corporations, LLCs, sole proprietorships, or partnerships) the ability to deduct up to 20% of qualified business income and is scheduled to expire in 2025. The Small Business Deduction was created in the 2017 tax law to bring small businesses’ tax rates closer to that of their large, corporate competitors. “If Congress doesn’t make this permanent and doesn’t renew it, they are going to face a massive tax hike across the country,” said Close about the Small Business Deduction and the effect inaction will have on small business owners. “It’s been a real benefit to job creation and the economy, and we want it to keep going.” In a recent NFIB member ballot, 91% of NFIB members said they supported permanently extending the expiring provisions of the 2017 tax law. Learn more at www.SmallBizDeduction.com. Keep up with the latest on California small-business news at www.nfib.com/california or by following NFIB on Twitter @NFIB_CA or on Facebook @NFIB.CA. ### For 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com. NFIB California 915 L. Street, Suite C-411 Sacramento, CA 95814 916-448-9904 www.nfib.com/CA Twitter: @NFIB_CA Facebook: @NFIB.CA