The Main Street Tax Certainty Act would make the 20% Small Business Deduction permanent
FOR IMMEDIATE RELEASE
Contact: Anthony Smith, NFIB Oregon State Director, [email protected]
or Tony Malandra, Senior Media Manager, [email protected]
SALEM, Ore., Sept. 24, 2024—Jeff Brabant, vice president of federal government relations for the National Federation of Independent Business (NFIB), the nation’s leading small business trade association, made the case for congressional passage of the Main Street Tax Certainty Act on KPNW Radio in Eugene this week.
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 2025. 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. The tax reductions for large corporations under the 2027 law were made permanent. The Small Business Deduction has empowered small business owners to overcome the economic challenges of the last few years. The Main Street Tax Certainty Act would make the 20% Small Business Deduction permanent and avoid a massive tax hike on a majority of America’s small businesses.
Listen to Brabant’s remarks here: https://youtu.be/eiMhedCLYQs and learn more at www.SmallBusinessDeduction.com
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The typical NFIB member employs between one and nine people and reports gross sales of about $500,000 a year. NFIB’s latest Small Business Economic Trends report can be read here and its latest Jobs Report here.
Keep up with the latest Oregon small-business news at www.nfib.com/oregon and follow us on Twitter at @NFIB_OR
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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.
National Federation of Independent Business Oregon
1149 Court Street NE
Salem, OR 97301
503-364-4450
www.nfib.com/oregon
Twitter: NFIB_OR
