Electrical News:
Business Tax deduction facing 2025 expiration, NFIB urges extension of small business deduction
The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, recently released two reports examining the 20% Small Business Tax Deduction, which was included in the 2017 Tax Cuts and Jobs Act, but is scheduled to expire at the end of next year. The reports find that if Congress fails to make the 20% Small Business Deduction permanent, small employers and the broader economy would face significant harm.
“These studies underscore just how crucial the 20% Small Business Deduction is to our Main Street employers,” NFIB State Director Chad Heinrich said. “Small businesses are the foundation of our national and local economy. The 20% Small Business Deduction has made it easier for small, and family-owned businesses here in Arizona to raise wages, purchase new equipment, and expand their operations. In this challenging economic environment, Congress must stop the massive tax hike on small businesses and pass the Main Street Tax Certainty Act.” For more info click on link and submit your concern and message to your state representative.
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