Impacting Small Business Policy Since 1937
WP '24 Priority Issues
For your Hill visits, NSBA has created a packet of information you can leave with the staff and Members you meet with. This includes an “About Us” piece on NSBA, a pocket card with talking points you can use during your meetings, and a one-pager, where staff and Members can refer to and access our key Issue Briefs.
For discussion topics during meetings, NSBA is asking all WP delegates to focus on the four key small-business issues as selected during Small Business Congress earlier this year:
Repeal the Corporate Transparency Act (CTA)
The CTA is unconstitutional and bad policy, especially since the information is already being collected. To protect small-business owners from these costly, duplicative, and uninformed mechanisms, NSBA has filed suit against Treasury seeking to overturn the CTA and prevailed at the Federal District Court level; however, lawmakers should seek every avenue possible to delay and repeal the CTA and stop proposed regulations from going into effect.
Address Expiring Tax Cuts
The Tax Cuts and Jobs Act approved several beneficial small-business tax provisions, however, many will sunset after 2025, resulting in significant tax hikes on pass-through businesses. As the tax reform debate heightens, NSBA supports making the pass-through business deduction permanent and extending the individual rate cuts, which is how the overwhelming majority of small-business owners pay taxes on business income. NSBA has long supported tax stability, predictability, and permanency, as they are critically important in the effort to help grow the economy and help improve our nation’s fiscal situation.
Support Small Business Procurement
Through small-business contracting, the federal government acts as a catalyst for small-business growth and innovation. NSBA supports policies that will further promote and facilitate small-business participation in the federal marketplace, including raising the small-business federal contracting goal to 30 percent; decreasing the minimum threshold for awards requiring small-business subcontracts; harnessing small-business innovation for ongoing infrastructure projects; and establishing a consolidated, more streamlined registration process.
Avoid a Government Shutdown
NSBA encourages Congress to pass funding bills without politicizing the process to ensure stability and certainty for pivotal government operations. Congress must work together to compromise on solutions to avoid government shutdowns, and, in the near-term, work toward passing a clean stopgap funding bill to give congressional appropriators more time to negotiate the twelve fiscal year (FY) 2025 government funding bills, going forward.