Small business owner Michael Ervin has penned an op-ed urging Congress to make the Small Business Deduction permanent. Ervin, the owner of Coal River Coffee Company in West Virginia, highlighted the importance of this deduction in a piece published by The Washington Times.
Ervin emphasized the impact of the Small Business Deduction on his own business, stating, “My small business is living proof that the tax deduction works wonders and is key to economic revitalization.” He further explained how the deduction provided him and his wife with the confidence to start their own business, enabling them to compete with larger chains like Starbucks and Tim Hortons.
During a recent testimony before the U.S. House Ways and Means Committee, Ervin advocated for the permanency of the 20% Small Business Deduction, stressing its significance for Main Street businesses like his own.
NFIB, in alignment with Ervin's stance, has listed making the Small Business Deduction permanent as its top policy priority for 2024. The organization has backed the Main Street Tax Certainty Act introduced in both the U.S. Senate and House, which aims to secure the continuity of this crucial tax deduction for small businesses.
Ervin’s plea to Congress echoes the sentiments of many small business owners across the country who rely on the Small Business Deduction for financial stability and competitiveness in the market. With the expiration of this deduction looming in 2025, Ervin and others like him emphasize the urgent need for Congressional action to support the backbone of the U.S. economy - small businesses.
