WASHINGTON, D.C. (Nov. 20, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, sent a letter to congressional leaders to request that Congress prioritize legislation in the lame-duck period that will provide immediate relief to small businesses nationwide.

“Small business uncertainty is at an all time high, and much of this stems from the fact that there is a looming tax hike on over 30 million small businesses in just over one year,” said NFIB Vice President of Federal Government Relations Jeff Brabant. “With the 20% small business deduction scheduled to expire, and burdensome beneficial ownership reporting requirements just around the corner, now is the time for Congress to proactively address the key issues impacting Main Street and prioritize legislation to help American small businesses grow, invest, and flourish.”

The small business community asks legislators to:

• Make the 20% Small Business Tax Deduction Permanent.
• Eliminate or Delay the Burdensome Beneficial Ownership reporting mandate for 32.6 million small businesses.
• Enact H.R. 906, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act.
• Eliminate red tape for small businesses through bipartisan legislation like H.R. 7198, the Prove It Act.
• Instill competition into the credit card swipe fee marketplace.
• Reduce energy costs by enacting H.R. 1, the Lower Energy Costs Act.
• Reject the renomination of Lauren McFerran to the National Labor Relations Board (NLRB).
• Address unsustainable health care cost increases.
• Prevent unintended 1099k triggered audits.

Read the full letter here.