The National Federation of Independent Business (NFIB) has released its "Small Business Growth Agenda for the 119th Congress," highlighting key legislative priorities based on input from its members. Jeff Brabant, NFIB Vice President of Federal Government Relations, emphasized the opportunity for Congress and the new Administration to advance small business-friendly policies over the next two years.
Brabant said, "NFIB strongly encourages lawmakers to prioritize the legislative solutions outlined in the Small Business Growth Agenda to fight high inflation, reduce energy and healthcare costs, eliminate red tape, and increase competition – all of which will strengthen the small business economy."
The agenda outlines several priorities:
- Taxes: NFIB seeks protection against tax increases and unnecessary audits for small businesses. It advocates making permanent beneficial provisions of the tax code and restoring lower corporate taxes for smaller businesses. This includes extending certain tax code provisions set to expire at the end of 2025, such as the 20% Small Business Deduction.
- Beneficial Ownership Reporting Requirements: The organization supports a full repeal of these requirements.
- Regulatory Burdens: NFIB backs proposals like the Prove It Act and others aimed at reducing regulatory burdens on small businesses.
- Energy: NFIB supports removing regulations on energy producers.
- Americans with Disabilities Act Reform: The group supports efforts to protect small businesses from frivolous ADA lawsuits.
- Labor: NFIB opposes employment mandates that it views as burdensome.
- Healthcare: The organization supports affordable health insurance options for small business owners and employees.
- Competition: NFIB believes large businesses have hindered small business growth through market dominance.
- Right to Repair: NFIB supports legislation ensuring access to vehicle repair data for independent shops.
- Swipe Fees: The group favors increased competition in credit card processing markets, supporting concepts in the Credit Card Competition Act.
The full agenda is available for review online.
Information from this article can be found here.
