Beaver State News

Jeff Brabant, the vice president of federal government relations for the National Federation of Independent Business (NFIB), discussed the potential impact of a tax law change on KPNW Radio in Eugene. The focus of the discussion was the expiration of the 20% Small Business Deduction, which could impact 26 million small businesses if Congress does not pass the Main Street Tax Certainty Act.

The deduction, initially part of a 2017 tax law, aimed to balance the advantages between small businesses and larger corporations. The latter benefited from permanent tax reductions under the same law. Brabant highlighted the necessity for Congress to act to ensure this deduction becomes permanent, a move that would prevent a significant tax increase at the end of 2025.

Brabant's remarks underscore the importance of the deduction, which has helped small businesses navigate recent economic difficulties. "The Small Business Deduction has empowered small business owners to overcome the economic challenges of the last few years," Brabant stated.

For those interested, Brabant's full remarks can be streamed online, and more information is accessible on the website dedicated to the Small Business Deduction.

The NFIB has been representing small businesses for 80 years and remains a leading advocate for the sector across all U.S. states. The organization continues to push for policies that support small and independent businesses.