Home > NFIB Weekly News

Font Adjust: A | A | A
NFIB Weekly News

NFIB Weekly News

NFIB Weekly News Business Climate

“Main Street Tax Certainty Act” Introduction in the U.S. Senate (05/17/2023)

The Main Street Tax Certainty Act is expected to be introduced in the U.S. Senate this week. Senator Steve Daines (R-MT) will re-introduce the important legislation, which will make the Small Business Deduction permanent. Currently, the deduction is set to expire after 2025. Rep. Jason Smith (R-MO), who has long championed making the Small Business Deduction permanent, is anticipated to re-introduce the legislation in the House soon as well.

“As small businesses manage economic headwinds, Congress has the opportunity to pass legislation that would provide tax certainty for Main Street by making the Small Business Deduction permanent,” said Brad Close, NFIB President. “Unlike the corporate rate, the Small Business Deduction is set to expire in 2025 and its elimination would cause small businesses to curtail their hiring and growth plans. We are encouraged that Senator Steve Daines re-introduced the Main Street Tax Certainty Act in the Senate and urge members of the U.S. House to quickly follow.”

Read the full article here

This website and the articles contained within are provided as a free service to you and for general informational purposes only. Information on this website is not intended to provide legal, accounting, tax or other advice. Please consult your attorney, accountant, or financial or other advisor with regard to your individual situation. We also make no warranty or representation regarding, and do not endorse, any linked websites or the information appearing there.
© 2024 Small Business Resources.