Peace Garden News

The National Federation of Independent Business (NFIB) has launched a national advertising campaign in North Dakota. The ads, which include radio, digital, and video formats, call on Congress to pass the Main Street Tax Certainty Act. This legislation aims 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," said NFIB President Brad Close. He emphasized that removing these tax savings could severely impact small businesses that rely on the deduction to tackle issues such as inflation and supply chain disruptions.

NFIB State Director Don Larson echoed this sentiment: "The Main Street Tax Certainty Act would make the 20% Small Business Deduction permanent and avoid a massive tax hike on nine out of 10 small businesses. This would be a significant relief for North Dakota small businesses."

The deduction was initially established under the 2017 tax law to provide smaller enterprises with competitive footing against larger corporations. However, it is set to expire at the end of 2025. The proposed act seeks to ensure its permanence, thereby preventing potential financial strain on numerous small businesses across America.