The National Federation of Independent Business (NFIB) recently held a press conference on Capitol Hill, featuring small business owners, Senator Steve Daines, and NFIB President Brad Close. The event focused on advocating for the passage of the Main Street Tax Certainty Act to make the 20% Small Business Deduction permanent.

FOX Business covered the press conference, where small business owners discussed how the potential expiration of the deduction would affect their operations and local communities.

"Small business owners were on Capitol Hill today, urging lawmakers to permanently extend the Trump-era tax cuts. Specifically, the 20% Small Business Tax Deduction that…will ultimately go away if Congress does not act. The National Federation of Independent Business is here on Capitol Hill warning lawmakers what will happen if that tax cut goes away. Nine out of 10 small businesses they say use this Deduction, more than half of them would have to increase their sticker price without this Tax Deduction. Almost half of businesses said they would delay or even cancel capital investments in their business, and around 30% said they would put off hiring new workers or stop hiring altogether."

An EY macroeconomic analysis released with NFIB's support indicates that making the deduction permanent could create over 1.2 million jobs and boost GDP by $75 billion annually for the next decade.

A recent survey of NFIB members found that 61% of small business owners reported that eliminating the deduction would likely lead them to raise prices. Additionally, 44% said they would postpone or cancel capital investments, and 36% indicated they would delay or cancel plans to hire additional employees.

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