The National Federation of Independent Business (NFIB) has launched a new radio advertisement in Connecticut, urging Congress to prevent a significant tax increase on small businesses. The NFIB is advocating for the passage of the Main Street Tax Certainty Act, which aims to make the 20% Small Business Deduction permanent.
“Connecticut small businesses simply can’t afford a 20% tax increase right now, and that’s why small businesses throughout the state are calling on Congress to pass the Main Street Tax Certainty Act,” stated Andy Markowski, NFIB Connecticut State Director. He emphasized that making this deduction permanent would help small businesses avoid a substantial tax hike during times of uncertainty and low optimism.
NFIB President Brad Close added, “Small businesses are the foundation of our economy, yet more than 30 million of them are about to face a massive tax hike that would hurt their ability to create jobs and give back to their communities.”
The 20% Small Business Deduction was introduced as part of the 2017 tax law with the intent to level the playing field between small businesses and larger corporations. It has provided support for small business owners through recent economic challenges but is set to expire at the end of 2025. The proposed legislation seeks to make this deduction permanent and prevent an impending tax increase affecting many American small businesses.
For eight decades, NFIB has been an advocate for America’s small and independent business owners across all states and in Washington, D.C. As a nonprofit and nonpartisan organization driven by its members since its inception in 1943, NFIB remains committed exclusively to supporting these enterprises. More information is available at nfib.com.
