NFIB Arizona Warns Against Expiration of Small Business Tax Cut | NFIB

NFIB Arizona is urging Congress to stop the massive tax hike on small business owners.

PHOENIX (Aug. 20, 2024) – In a conversation with Arizona’s Family Steven Sarabia, NFIB State Director Chad Heinrich warned that if Congress doesn’t act, the 20% Small Business Deduction will expire in 2025, which would result in a massive tax hike for Arizona job creators.

“It’s critical that this provision is made permanent,” Heinrich said. “Most [small business owners] said they hired employees, and they bought equipment. They used the tax savings to grow their business. This would probably be the largest tax increase for small businesses have seen in decades.”

CLICK HERE to watch the full conversation. CLICK HERE to listen to NFIB’s new ads airing in Arizona urging Congress to pass the Main Street Tax Certainty Act. CLICK HERE to view the Small Business Problems and Priorities report.

Background:

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. It has empowered small business owners to overcome the economic challenges of the last few years – but it’s set to expire at the end of 2025. 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. Learn more at www.SmallBizDeduction.com.

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Keep up with the latest on Arizona small business news at www.nfib.com/arizona or by following NFIB on X @NFIB_AZ.