Hoosier State Today

The National Federation of Independent Business (NFIB) has launched a fresh video ad in Indiana, emphasizing the importance of urging Congress to prevent what it describes as a significant tax increase on small businesses. This latest initiative is part of NFIB's ongoing campaign to support the passage of the Main Street Tax Certainty Act, which aims to make the 20% Small Business Deduction permanent.

According to Natalie Robinson, NFIB's Indiana State Director, "Small businesses throughout Indiana cannot afford a tax hike right now, and that's why we're asking Senator Todd Young to support the Main Street Tax Certainty Act and make the Small Business Deduction permanent." Robinson highlighted the multitude of economic challenges that small business owners face, which she believes will worsen if the tax increase takes effect.

NFIB President Brad Close echoed these concerns, emphasizing the critical role of small businesses in the U.S. 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," said Close.

The 20% Small Business Deduction was initially introduced under the 2017 tax law as a means to provide competitiveness with larger corporations. However, the provision is scheduled to expire at the end of 2025. The Main Street Tax Certainty Act seeks to solidify this deduction, thereby mitigating the impending tax burden on many of America's small businesses.