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Lawmakers MUST act to ensure parity in tax rates between the smallest businesses and global corporations

The tax piece of the "one big, beautiful bill" pie is making its way from the Ways and Means to the Budget part of his concessions, House Speaker Mike Johnson (R-La.) agreed to an increased state-and-local tax reportedly still debating the bill, with Democrats pushing back against what they are describing as tax The 389-page tax bill includes permanency for provisions originally passed through the 2017 Tax Cuts bear a disproportionate share of the tax burden relative to large companies.

Commitments to common sense tax policy must prevail in Congress to support small business. ) indicated that a majority of the Senate Republican Conference was not currently supportive of the tax to the Child Tax Credit (CTC).  This poses a significant hurdle for final passage of any tax deal, especially one which includes key NSBA is closely monitoring the progress of the tax deal, and will continue to provide updates as they

Extension of critical tax provisions serving of the Small-Business community is an NSBA Priority Issue opportunity for Congress to unlock the Budget Reconciliation process and allow for consideration of tax There are a handful of critical small-business tax provisions, like 199A, the Qualified Business Income Deduction, that were passed as part of the Tax Cuts and Jobs Act (TCJA) of 2017, which will expire, federal taxes have on America’s smallest businesses.

may be adjourning for August, but there is no Recess for Small Business – especially when it comes to tax House Members and key Committees ­outlining priorities leading up to legislative discussions for a 2025 tax RELATED | NSBA Priority Issues – Taxes Citing the small business impact on the U.S. economy, including Follow NSBA as we continue tracking these policies and tax priorities, and share your small-business story, including how tax policies affect your enterprise and bottom line with our Voter Voice tool .

Feb. 7, 2025   Contact Molly Day 202-552-2904 press@nsba.biz Small Business Votes Extending Expiring Tax Small businesses selected extending the expiring Tax Cuts and Jobs Act (TCJA) tax provisions, improving tax breaks that were passed under the 2017 Tax Cuts and Jobs Act.,” stated Todd McCracken NSBA president Extend Expiring Tax Provisions 2.       Extend 199A Pass-Through Deduction 3.       Eliminate the Self Employment Tax on Health Care 8.      

It may not be fair, but tax policy considerations are already a circus this Congress. Buddy Carter (R-Ga.) introduced legislation, the Fair Tax Act of 2023 (H.R. 25), which would effectively abolish the IRS, do away with the current federal income tax, payroll taxes, gift taxes, and all other federal taxes and replace it with a 30 percent national sales tax. the Fair Tax aims to do.

The bill contains small-business tax provisions supported by NSBA. UPDATE | After passage in the House, bipartisan tax deal still faces significant hurdles in the Senate RELATED | NEWS | Tax Deal Faces High Hurdles in Senate This week, Congress is set to vote on the new, bipartisan, bicameral Tax Relief for American Families and Workers Act of 2024. reinstates non-amortized research and development deductions under Section 174 for the 2022 and 2023 tax

Compromise will be key to ensure common sense tax provisions for small business this year. The bipartisan tax deal faces significant hurdles in the Senate, as a number of Senate Finance Committee RELATED | PRESS | NSBA Applauds House for Bipartisan Passage of Tax Relief Bill The Finance Committee was written behind closed doors and without their input, and secondly some appear concerned that any tax Follow NSBA as we continue tracking this tax legislation on Capitol Hill.

NSBA Priority Issue, small business commends Senate supporters of a path forward for this important tax UPDATE | After we alerted our community that Senate leadership was going to try to bring H.R.7024, the Tax tax relief to high-tech small businesses.  In February, bipartisan cooperation in the House helped pass The Tax Relief for American Families and Tax Relief bill has remained stalled in the Senate; however, this week, after months of NSBA member

Congress continues to discuss a tax package, including a number of provisions pertinent to small business the weekend, a bipartisan group of House and Senate negotiators hammered out a deal on a major $78b tax R&D expensing, with domestic Section 174 expenses set to be retroactively deductible beginning with tax While the change is not permanent in the new legislation, it would be secured through the 2025 tax year year 2023 and 60% for tax year 2024) will retroactively restored to 100%, beginning in tax year 2023

“The state of taxes in our country is weighing heavily on small businesses...." 2024   CONTACT | Molly Day 202-552-2904 | mday@nsba.biz   NSBA Responds to VP Harris Small Business Tax expiration of a number of tax cuts from the 2017 Tax Cuts and Jobs Act. income tax level, the expiration of the individual rate cuts would be yet another tax hike on America and small businesses; and tax simplification.”