NSBA looks forward to continuing its efforts to drive member-elected Priority Issues through pragmatic action with the Administration and all leaders committed to Small Business in Washington.
FOR IMMEDIATE RELEASE
March 4, 2025
Contact:
Molly Day
202-552-2904
Small Business Reacts to State of the Union
Washington, D.C. – President Donald Trump delivered a formal address before a joint session of Congress this evening where he focused on immigration, foreign affairs and various social policies. President Trump also touched on economic issues, citing several large business deals and gave the U.S. House of Representatives a hat-tip for passing legislation to extend the 2017 Tax Cuts and Jobs Act (TCJA) extension.
Below is a statement from NSBA President and CEO Todd McCracken:
“NSBA is pleased that President Trump elevated the importance of extending the TCJA tax breaks to small businesses—something that was already made permanent for large corporations. Given that the majority of small-business owners pay business taxes at the personal income level—83 percent are pass-through entities—extending the JCTA tax cuts is critical to small business.
“For years, NSBA has been warning policymakers about the challenges posed by various sunsetting laws and how those create additional hardships that fall squarely on the shoulders of small business. Today, that fear is front-and-center. I urge lawmakers of every stripe to seek solutions to ensure that small businesses are afforded tax stability, predictability, and permanency, not to mention parity with larger businesses.
“Furthermore, I urge policymakers on both ends of Pennsylvania Ave. to support policies that truly help America’s small businesses: full repeal of the Corporate Transparency Act, rein in the cost of health care, fair and equitable access to capital and federal contracts, and a strong U.S. Small Business Administration and Office of Advocacy.
“I look forward to working with the Trump administration, and Democrats and Republicans in Congress to provide insight and perspective from America’s small businesses as policymakers move forward on key small-business priorities.”
Celebrating nearly 90 years in operation, NSBA is a staunchly nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA's 65,000 members represent every state and every industry in the U.S., and we are proud to be the nation’s first small-business advocacy organization. Please visit www.NSBAadvocate.org or follow us at @NSBAAdvocate.
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