The National Federation of Independent Business (NFIB) recently held a press conference in Washington D.C. as part of its 2024 Small Business Tax Deduction Summit. The event aimed to advocate for the Main Street Tax Certainty Act, which seeks to make the 20% Small Business Deduction permanent for the country’s 33 million small businesses.
NFIB President Brad Close and U.S. Senator Steve Daines (R-MT) were among those present at the Capitol Hill gathering. They were joined by small business owners who expressed their support for the legislation.
Beth Michael Ervin, an NFIB member and owner of Coal River Coffee Company in Saint Albans, West Virginia, participated in the event. She shared her experience with how the tax deduction has benefited her business and community.
“My business actually wouldn’t exist if it wasn’t for the 20% Small Business Deduction,” Ervin stated. “See when Congress passed this deduction in 2017, it gave my wife and I the confidence to start our own business and be a part of the comeback for our small town’s revitalization.”
Ervin emphasized that community is central to their operations: “We’ve taken the tax savings from our small business and put it right back into the community. We’ve reinvested in our coffee shop, we’ve hired more staff, we’ve opened other small businesses as well.”
She warned about potential consequences if Congress does not act: “But without Congressional action, the deduction will expire, and we will be hit with a massive tax hike. This will have drastic problems not only for my business but all of Main Street across America.”
