The National Federation of Independent Business (NFIB), a prominent small business advocacy group, has identified the One Big Beautiful Bill Act as a crucial legislative measure for the 119th Congress. The NFIB has reached out to Senators with a letter advocating for the advancement of this legislation, which promises significant tax relief for small businesses.
Adam Temple, NFIB's Senior Vice President for Advocacy, emphasized the importance of making the 20% Small Business Deduction permanent. "By making the 20% Small Business Deduction permanent, The One Big Beautiful Bill Act delivers a major win for Main Street by preventing a massive tax increase on America’s small businesses," Temple stated. He further highlighted that "the historic pro-business policies in this bill will empower small business owners to grow, hire, and invest in their communities." The NFIB is urging Senators to support this initiative and back the Graham substitute amendment to H.R. 1.
The 20% Small Business Deduction was initially introduced in the 2017 tax law to create an equitable environment between smaller enterprises and larger corporations. Without permanence, over 30 million small businesses face potential tax increases at the close of 2025. The proposed act seeks to cement this deduction and avert substantial tax hikes affecting many American small businesses.
