A recent poll conducted by the National Federation of Independent Business (NFIB) indicates strong support among Americans for maintaining the 20% Small Business Tax Deduction as Congress continues its discussions on tax policy. The survey shows that more than 80% of Americans see federal support for small businesses as important, with a significant majority across Republicans, Democrats, and Independents agreeing on this point.
NFIB President Brad Close commented on the findings, stating, "This research reinforces the high stakes of this Congressional tax debate. Americans recognize the immense value of the 20% Small Business Tax Deduction and are concerned about the devastating consequences should Congress fail to act. NFIB strongly urges Congress to make the deduction permanent and deliver the certainty that small businesses need to continue to grow, hire, and give back to their communities."
The poll reveals that 62% of participants favor retaining the Small Business Tax Deduction, a provision of the 2017 Tax Cuts and Jobs Act. Furthermore, 77% believe the deduction helps ensure tax fairness between small businesses and larger corporations.
Further insights from the survey, which included 2,000 American voters, highlight that 91% of Americans agree on the importance of the deduction to small businesses. Additionally, 79% perceive the deduction as beneficial to the overall economy, while 75% see positive effects on their local economy. Concerns are widespread, with 51% expressing deep worry over potential economic fallout should the deduction expire.
The 20% Small Business Deduction, scheduled to expire at the end of 2025, was initially introduced to balance the competitive landscape for small businesses under the 2017 Tax Cuts and Jobs Act. Without Congressional intervention, the expiration could lead to substantial tax increases for small businesses, jeopardizing their operations and wage growth capacity.
The NFIB's survey, executed by Seven Letter Insight from March 21 to March 25, 2025, included a representative sample of American voters and a specific oversample of small business owners. The findings have a margin of error of ±2.0%.
