Grand Canyon Times

The National Federation of Independent Business (NFIB), a prominent small business advocacy group, has launched new radio and video advertisements in Arizona. The ads aim to persuade members of Congress to prevent a significant tax increase on small businesses by supporting the Main Street Tax Certainty Act, which seeks to make the 20% Small Business Deduction permanent.

"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," stated NFIB President Brad Close. He emphasized the necessity for Congress to pass the legislation "to level the playing field and help small businesses compete."

NFIB State Director Chad Henrich highlighted concerns specific to Arizona, noting, "Arizona small business owners can’t afford this massive tax hike." He explained that the deduction has enabled growth and improved employee benefits since its inception as part of the 2017 tax law. Henrich described it as "the most significant part" of that law, stressing that losing it would affect every small business.

The 20% Small Business Deduction was established under the 2017 tax legislation with the intention of providing smaller enterprises with competitive parity against larger corporations. This provision is set to expire at the end of 2025. The Main Street Tax Certainty Act proposes making this deduction permanent, thereby preventing an impending tax burden on many American small businesses.