Mountain State Times

The National Federation of Independent Business (NFIB) has launched a new radio advertisement in West Virginia, urging Congress to halt what it describes as a significant tax increase on small businesses. The ad is part of NFIB's ongoing campaign advocating for the passage of the Main Street Tax Certainty Act, which aims to make the 20% Small Business Deduction permanent.

Gil White, NFIB State Director, emphasized the financial strain that such an increase would impose on small businesses in West Virginia. "West Virginia’s small businesses simply can’t afford a 20% tax increase right now," White stated. He urged Congress to act by passing the legislation to prevent additional expenses for these businesses.

NFIB President Brad Close highlighted the broader impact of this potential tax hike on the economy. "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," Close remarked.

The 20% Small Business Deduction was introduced under the 2017 tax law as a measure to support small business owners against larger corporations. It has played a crucial role in helping these owners navigate economic challenges over recent years. However, this deduction is set to expire at the end of 2025 unless legislative action is taken through the Main Street Tax Certainty Act.