WASHINGTON, D.C. (June 10, 2025) – NFIB Vice President of Federal Government Relations Jeff Brabant joined C-SPAN’s Washington Journal to discuss the state of the small business economy, the One Big Beautiful Bill Act, and the importance of making the Small Business Deduction permanent. 

Watch the full interview here. 

On why Congress should make the Small Business Deduction permanent: 

“Congress created this 20% deduction, which gets the effective rate a lot lower for those pass-through businesses, and gets them a lot closer to the 21% [tax rate paid by larger businesses]. But it was scheduled to expire, which would have resulted in a significant tax hike on tens of millions of small business owners… [The 20% Small Business Deduction] keeps parity, so that Congress isn’t picking winners and losers in terms of how you organize your business.” 

On Beneficial Ownership Information Reporting: 

“Another big issue that’s kind of flying under the radar, it’s called Beneficial Ownership Information Reporting, and earlier this year, the Trump administration changed a rule that would have required every business, and only businesses with 20 or fewer employees, to register their quote unquote ‘beneficial owners’ with the Financial Crimes Enforcement Network. And if they didn’t do it by a certain date, they’d have to go to jail for two years, or get up to $10,000 in fines… The Trump administration exempted American small businesses. However, this is not permanent relief for American small businesses. This is something that a new administration can change. This is something that eventually might change in court. So, we’re asking Congress to do permanent regulatory relief for small businesses, to get rid of this Beneficial Ownership Information reporting.”

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For over 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 nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses, and remains so today. For more information, please visit nfib.com.