NFIB has released a video detailing the workings and potential impact of the 20% Small Business Tax Deduction. The organization stresses the importance of making this deduction permanent to avoid a significant tax increase for small businesses at the end of 2025.

"If Congress fails to act, 33 million small businesses will face a massive tax hike at the end of 2025. Not making the Small Business Deduction permanent would limit Main Street’s ability to grow, hire new workers, provide for their employees, and give back to their community. The ripple effect of this financial hit will be nationwide," said Jeff Brabant, NFIB Vice President of Federal Government Relations.

The NFIB is urging small business owners to support efforts to make the deduction permanent by advocating for the Main Street Tax Certainty Act. According to NFIB, nine out of ten small businesses could experience a substantial tax increase if the deduction expires.

The video released by NFIB aims to explain how this deduction assists small businesses in competing with larger corporations and managing economic challenges. It emphasizes that without legislative action, these benefits are set to expire at the end of 2025.

For further information on this issue and to view the explainer video, interested parties can visit NFIB's website.