In a new video, NFIB Virginia member and small business owner, Tina Miller, shares how having a permanent 20% Small Business Deduction has helped keep her retail stores open and provide her employees with raises.

Miller, who owns Walkabout Outfitter, with locations in Richmond and five other cities across the Commonwealth, describes the challenges that come with operating a retail business and expresses gratitude for being able to continue employing workers in Virginia.

In the video, Miller says:

“I am so grateful for the 20% Small Business Deduction because it was extremely scary to think that that deduction would have gone away. It is very challenging to stay in business, especially retail business, because it’s not like I can change the prices of things willy-nilly, especially with the internet. So, if that deduction had gone away, it could have very well meant the closing of our business. So, by having that small business deduction, it gives me hope to stay strong and continue to employ people and be a job creator in Virginia.”

[…]

“We are very grateful for having the Small Business Deduction and with that savings this year on it, we will continue to give people raises. As owners of the business, my husband and I who own the business, we have not given ourselves any pay raises, but we do give pay raises to stay competitive, so it goes right to our employees. So, we’re very grateful, again, to have the Small Business Deduction, which to begin with, I think helped keep us in business. And, that money is actually going directly to the employees that we currently have, so they are the ones who are most benefitting from the Small Business Deduction.”

On Wednesday, NFIB released a report outlining the economic benefits and significant tax savings from the now-permanent 20% Small Business Deduction for Virginia’s 880,366 small businesses. The report also highlights several additional federal tax relief measures recently signed into law.

Virginia is projected to gain 33,000 new jobs each year over the next decade if the deduction remains in place, along with annual GDP growth of $1.9 billion during that period and $3.94 billion per year beyond 2035.

Read the report here.