NFIB Launches Campaign to Support Small Business Tax Deduction

News Summary

The National Federation of Independent Business (NFIB) has initiated a digital ad campaign in New York to support Representatives Nicole Malliotakis and Mike Lawler. The campaign aims to make the Small Business Tax Deduction a permanent part of the tax code, showcasing testimonials from small business owners about its benefits. As Congress debates tax legislation, NFIB emphasizes the importance of this deduction in fostering growth and job creation for small businesses.

Albany, NY – The National Federation of Independent Business (NFIB) has launched a series of digital advertisements in support of Representatives Nicole Malliotakis (NY-11) and Mike Lawler (NY-17). These advertisements emphasize both lawmakers’ dedication to small businesses and their efforts in Congress to make the Small Business Tax Deduction a permanent fixture in the tax code. This initiative comes at a crucial time as Congress is currently considering significant tax legislation that could impact small businesses across the nation.

The ads, which will be visible throughout New York’s 11th and 17th Districts, aim to raise awareness about the importance of the Small Business Tax Deduction. By featuring video testimonials from NFIB members, the campaign illustrates real-life examples of how small business owners have benefited from this deduction. The testimonies highlight how this financial relief has enabled them to invest in their businesses and create jobs over the past seven years.

As part of NFIB’s ongoing multi-year, multi-state effort, these advertisements are not just about promoting political figures; they also serve a larger purpose. The NFIB’s campaign strives to ensure that the 20% Small Business Tax Deduction remains intact in future tax discussions. Without this protection, small businesses could face hefty tax increases, putting them at a disadvantage compared to larger corporations.

The NFIB New York State Director has communicated that the Small Business Tax Deduction has been vital for NYC small businesses, emphasizing its role in fostering growth and employment. Both Representatives Malliotakis and Lawler are recognized as strong advocates for making this deduction permanent. Their commitment to small businesses is underscored by their actions in the legislature and public support in their respective districts.

The Small Business Tax Deduction was initially established during the 2017 Tax Cuts and Jobs Act, allowing eligible small business owners to deduct up to 20% of their qualified business income. This provision was designed specifically to level the playing field, enabling smaller companies to compete with bigger firms. As Congress deliberates on tax reform, there is a growing sense of urgency from organizations like the NFIB to take action to protect this vital deduction.

In summary, the NFIB’s new digital advertisement campaign is designed to bolster support for the Small Business Tax Deduction by recognizing advocates in Congress. The initiative not only showcases the benefits of this tax policy but also aims to ensure that small businesses continue to thrive as lawmakers consider significant changes to the tax landscape. The outcome of these discussions will be crucial for the economic health of countless small businesses across New York and beyond.

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Additional Resources

• NFIB News: Jeff Brabant on Small Business Deduction
• City & State NY: $10 Million Tax Credit for Businesses
• CBS 6 Albany: Schumer on Tariffs and Business Impact
• Gothamist: Hochul Eyes NYC Tax Hike for MTA
• Syracuse.com: NY Main Street Businesses Need Unemployment Fix
• Wikipedia: Small Business
• Google Search: Small Business Tax Deduction
• Google Scholar: Small Business Tax Deduction
• Encyclopedia Britannica: Small Business Tax Deduction
• Google News: Small Business Tax Deduction