The National Federation of Independent Business (NFIB), a major advocate for small businesses in the United States, has initiated a new paid advertising campaign in North Dakota. The campaign, which includes radio, digital, and video ads, emphasizes the importance of passing the Main Street Tax Certainty Act. This legislation aims to make the 20% Small Business Deduction permanent in order to prevent what the NFIB calls a “massive tax hike” on small businesses.
Brad Close, the president of NFIB, expressed concerns over the potential impact of the tax changes. “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,” he stated. Close warned of the detrimental effects of removing the tax savings, including challenges small businesses face such as inflation and supply chain disruptions.
Close also noted that the 20% Small Business Deduction, established in the 2017 tax law, had been instrumental in helping small businesses deal with recent economic challenges. As the deduction is set to expire in 2025, the Main Street Tax Certainty Act seeks to ensure its permanence and avoid future tax hikes for the vast majority of small businesses.
Local advocacy was echoed by NFIB State Director Don Larson, who highlighted the importance of the act for North Dakota businesses. “This would be a significant relief for North Dakota small businesses. Congress must pass the Main Street Tax Certainty Act now to level the playing field and help small businesses compete,” Larson urged.
The campaign encourages immediate legislative action to support and secure the financial stability of small businesses across the nation by maintaining their current tax advantages.
