Beaver State News

Jeff Brabant, vice president of federal government relations for the National Federation of Independent Business (NFIB), recently appeared on KPNW Radio in Eugene to discuss the potential tax implications facing small businesses in Oregon. The conversation centered around the Main Street Tax Certainty Act and its importance for small business owners.

The 20% Small Business Deduction, a part of the 2017 tax law, is set to expire at the end of 2025. This deduction has been crucial for approximately 26 million small businesses across the country, helping them manage economic challenges by reducing their federal taxes. In contrast, tax reductions for large corporations were made permanent under the same law.

Brabant emphasized that without congressional action to pass the Main Street Tax Certainty Act, these businesses could face significant tax increases. "The Main Street Tax Certainty Act would make the 20% Small Business Deduction permanent and avoid a massive tax hike on a majority of America’s small businesses," he stated.

Oregon's typical NFIB member employs between one and nine people with gross sales averaging about $500,000 annually. The NFIB continues to advocate for small business interests both federally and at state levels.

More information about this issue can be found by listening to Brabant’s full remarks online or visiting www.SmallBusinessDeduction.com.

For further details on NFIB's efforts and reports related to small business economic trends and employment statistics, interested parties are encouraged to visit their website or follow them on social media.