The National Federation of Independent Business (NFIB) has launched a significant advertising campaign to advocate for the permanence of the 20% Small Business Tax Deduction. This campaign, which involves a seven-figure investment, will feature television and digital ads across Washington, D.C., and several states. The ads are part of a broader strategy to influence the tax debate ahead of the 119th Congress in 2025.
The new advertisements highlight the importance of making the expiring tax deduction permanent by passing the Main Street Tax Certainty Act. The NFIB's initiative includes testimonials from small business owners nationwide who urge Congress to prevent what they describe as a substantial tax increase on small businesses.
Brad Close, President of NFIB, emphasized the significance of this tax cut: “Small businesses are the foundation of the American economy, and the 20% Small Business Deduction is the most significant tax cut for small businesses in the last few decades, helping level the playing field between Main Street and large corporations.” He warned that removing these savings could severely impact America's small businesses, many of which have already begun to prepare for potential financial challenges.
The 20% Small Business Deduction was initially established under the 2017 tax law to provide smaller enterprises with competitive parity against larger corporations. It has been instrumental in helping small business owners navigate recent economic difficulties but is set to expire at the end of 2025. The proposed Main Street Tax Certainty Act aims to make this deduction permanent, thereby averting a significant tax increase on most small businesses in America.
