NFIB Vice President of Federal Government Relations, Jeff Brabant, appeared on C-SPAN’s Washington Journal to discuss the current state of the small business economy. During his appearance, he addressed the One Big Beautiful Bill Act and emphasized the significance of making the Small Business Deduction permanent.
Brabant explained why Congress should consider making this deduction permanent: “Congress created this 20% deduction, which gets the effective rate a lot lower for those pass-through businesses, and gets them a lot closer to the 21% [tax rate paid by larger businesses]. But it was scheduled to expire, which would have resulted in a significant tax hike on tens of millions of small business owners… [The 20% Small Business Deduction] keeps parity so that Congress isn’t picking winners and losers in terms of how you organize your business.”
Another topic discussed was Beneficial Ownership Information Reporting. Brabant noted its potential impact: “Another big issue that’s kind of flying under the radar, it’s called Beneficial Ownership Information Reporting... The Trump administration exempted American small businesses. However, this is not permanent relief for American small businesses... So we’re asking Congress to do permanent regulatory relief for small businesses, to get rid of this Beneficial Ownership Information reporting.”
The NFIB has been advocating for America’s small and independent business owners since its founding in 1943. It operates as a nonprofit and nonpartisan organization dedicated solely to supporting these businesses across all states.
