NFIB has initiated a statewide advertising effort aimed at persuading West Virginia Senators, Joe Manchin and Shelley Moore Capito, to back the Main Street Tax Certainty Act. This federal proposal seeks to make the existing 20% Small Business Deduction a permanent fixture, as it is currently set to expire in 2025.
“West Virginia’s small businesses have had a rough few years, beginning with the pandemic and continuing with the labor shortage and inflation that has driven up the price of everything from raw materials to rent,” stated Gil White, the NFIB State Director.
White emphasized the potential consequences of letting the deduction lapse, noting, “If the 20% Small Business Deduction is allowed to expire, the economic impact would force small businesses to cut back on hiring and slow any plans they might have had to expand.”
The deduction, known as Section 199A, is relevant to nine out of ten small businesses, allowing them to deduct up to 20% of qualified business income. On behalf of NFIB’s West Virginia small business members, White called on the Senators to endorse the measure, expressing that such action would facilitate growth and job creation for small businesses.
