Rushmore State News

The National Federation of Independent Business (NFIB) has launched a national advertising campaign in South Dakota, featuring a radio ad urging Congress to prevent a tax increase on small businesses. The campaign advocates for the passage of the Main Street Tax Certainty Act, which aims to make the 20% Small Business Deduction permanent.

NFIB President Brad Close expressed concern about the impact of the potential tax increase on small businesses. He stated, "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 highlighted the importance of the deduction in helping small businesses navigate challenges such as inflation and supply chain disruptions.

The NFIB’s campaign underscores the significance of the Small Business Deduction, created as part of the 2017 tax legislation, in leveling the playing field between small businesses and larger corporations. This deduction is set to expire at the end of 2025, and the passage of the Main Street Tax Certainty Act would prevent what NFIB sees as a tax hike impacting nine out of 10 small businesses.

NFIB State Director Jason Glodt emphasized the economic role of small businesses in South Dakota and nationwide. "In South Dakota and throughout the country, small businesses are the backbone of our economy," Glodt said. He cautioned that allowing the deduction to expire could hinder job creation and community contributions. Glodt added, "It is crucial for Congress to take action now to support Main Street and ensure a level playing field for its continued success."

The ad campaign is part of the NFIB’s ongoing efforts to engage policymakers and protect the interests of small businesses across the United States.