The National Federation of Independent Business (NFIB) has launched a new advertising campaign to express gratitude to Congress for making the 20% Small Business Tax Deduction permanent. This initiative includes radio, digital, and billboard ads in various states, acknowledging lawmakers for preventing a significant tax increase on small business owners.
Brad Close, President of NFIB, emphasized the importance of this development: "For years, NFIB’s members have spoken out about the importance of making the 20% Small Business Tax Deduction permanent." He added that both the White House and Congress have significantly supported small businesses by allowing them to retain more income for reinvestment in their operations and communities. Close described this outcome as a major victory due to widespread support in Washington and persistent advocacy efforts nationwide.
The 20% Small Business Tax Deduction was initially introduced under the 2017 Tax Cuts and Jobs Act. It permits small business owners to deduct up to 20% of their qualified business income, thereby helping smaller firms compete with larger corporations.
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