The National Federation of Independent Business (NFIB), a prominent small business advocacy group, has issued a statement in response to President Trump's recent address to Congress.
"The 20% Small Business Tax Deduction that was included in the TCJA was a historic achievement. It empowered tens of millions of small business owners to grow their business, hire new workers, raise wages for their employees, and give back to their communities," stated Brad Close, NFIB President.
Close emphasized the urgency for Congressional action by warning that "without Congressional action, nine out of 10 small businesses will be hit with a massive tax hike later this year." He further stressed the reliance of America's 30 million small businesses on both Congress and the administration to ensure the permanency of this deduction. The NFIB is urging lawmakers to act promptly to avoid what they describe as a significant tax increase.
