NFIB Vice President of Federal Government Relations Jeff Brabant joined “Syracuse’s Morning News with Dave Allen” on WSYR Radio this week to urge Congress to make permanent the federal Small Business Deduction.

Brabant underscored the vital importance of the tax provision and discussed NFIB’s recent poll showing the public’s support for Main Street businesses: “This poll shows that 79% of all voters believe that…the Small Business Deduction is going to have a positive impact on the economy, and shows that 91% believe that small businesses rely on this deduction to stay in business, and 51% are concerned…that the economy will suffer if this expires.”

If Congress fails to act, 26 million small businesses that have been taking advantage of the 20% Small Business Deduction on their federal taxes are facing a huge tax increase when the deduction expires at the end of this year. 

The 20% Small Business Deduction was created as a part of the 2017 tax law to level the playing field between small businesses and larger corporations. However, the tax reductions for large corporations under the 2017 law were made permanent. The Small Business Deduction has empowered small business owners to overcome the economic challenges of the last few years. 

Listen to Brabant’s remarks here: https://youtu.be/Ot_NtYFE6ug and find more information at Stop the Small Business Tax Hike.

Related Information for New York:

• NFIB-20-Small-Business-Deduction-Impact-NY.pdf

https://youtu.be/Ot_NtYFE6ug