Hawkeye Reporter

Jeff Brabant, Vice President of Federal Government Relations for the National Federation of Independent Business (NFIB), appeared on 600 WMT Radio in Cedar Rapids to discuss the importance of preventing a significant tax increase on small businesses in Iowa. Brabant highlighted the need for Congress to make the 20% Small Business Deduction permanent.

Brabant explained that the deduction, introduced as part of the 2017 tax law, was intended to create a level playing field between small businesses and larger corporations. "The 20% Small Business Deduction was created as a part of the 2017 tax law to level the playing field between small businesses and larger corporations," he noted. The deduction has been crucial in helping small businesses navigate recent economic challenges.

However, this tax provision is set to expire at the end of 2025, posing a potential financial burden for small businesses. Brabant supports the Main Street Tax Certainty Act, which aims to make the deduction permanent and prevent what he describes as a looming "massive tax hike" on a majority of small businesses in America. "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 added.

Listeners interested in the full interview can find it online. More details about the campaign can be accessed through the dedicated website.