The National Federation of Independent Business (NFIB) has released its "Small Business Growth Agenda for the 119th Congress," which reflects input from NFIB small business members and outlines key legislative priorities.
Jeff Brabant, NFIB Vice President of Federal Government Relations, emphasized the opportunity for lawmakers to advance pro-small business priorities over the next two years. "The 119th Congress and the incoming Administration have a significant opportunity to advance pro-small business priorities within the next two years," said Brabant. He urged lawmakers to focus on solutions that address high inflation, reduce energy and healthcare costs, eliminate red tape, and increase competition.
The agenda includes several legislative priorities:
Taxes: NFIB aims to protect small business owners from tax increases and unnecessary audits while advocating for permanent provisions in the tax code beneficial to small businesses. This includes extending provisions set to expire at the end of 2025, such as the 20% Small Business Deduction.
Beneficial Ownership Reporting Requirements: The organization supports repealing these requirements entirely.
Regulatory Burdens: NFIB backs proposals that lessen regulatory burdens on small businesses and enhance transparency in regulation. This includes support for acts like the Prove It Act and the Guidance Clarity Act.
Energy: NFIB seeks to remove regulatory obstacles for energy producers.
Americans with Disabilities Act Reform: The group supports efforts to protect small businesses from frivolous lawsuits related to ADA violations.
Labor: NFIB opposes employment mandates that it views as burdensome.
Healthcare: The organization advocates for affordable health insurance options for small businesses and their employees.
Competition: NFIB is concerned about large businesses using market dominance against smaller competitors.
Right to Repair: Support is given to legislation ensuring independent auto repair shops have access to necessary data.
Swipe Fees: The group supports increased competition in credit card network processing markets, referencing concepts in the Credit Card Competition Act.
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