NFIB Vice President of Federal Government Relations Jeff Brabant recently spoke to ”Syracuse’s Morning News with Dave Allen” on WSYR Radio in New York, simulcast in Syracuse and the state capital Albany, to discuss the importance of the Small Business Deduction for Main Street businesses and the latest Congressional action on the measure.

>>> Listen to the interview here: NFIB’s Jeff Brabant discusses the Small Business Deduction on WSYR Radio

“[I]f Congress does nothing this year, we’re looking at about 33 million small businesses that are going to see a significant tax hike at a time when their larger corporate rivals likely are not going to see any tax hike.”

Brabant emphasized importance of the tax provision and cited NFIB’s recent polling showing the public’s strong support for the Small Business Deduction. If Congress fails to act, millions of small businesses that have been taking advantage of the 20% Small Business Deduction on their federal taxes are facing a huge tax increase when the deduction expires at the end of this year. 

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. However, the tax reductions for large corporations under the 2017 law were made permanent. The Small Business Deduction has empowered small business owners to overcome the economic challenges of the last few years.

Find more information about NFIB’s work in Washington, D.C., to protect the Small Business Deduction at Stop the Small Business Tax Hike.

Related New York-Specific Information about the Small Business Deduction:

• NFIB-20-Small-Business-Deduction-Impact-NY.pdf