Sooner State News

The National Federation of Independent Business (NFIB) has released a new video in Oklahoma as part of its ongoing campaign to influence Congress regarding a significant tax measure affecting small businesses. The advocacy group is urging legislative action to pass the Main Street Tax Certainty Act, which would ensure the permanence of the 20% Small Business Deduction implemented in 2017.

NFIB President Brad Close addressed the issue, stating, “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 emphasizes the need for Congressional action to secure this tax provision.

The organization’s state director in Oklahoma, Jerrod Shouse, highlighted the local business climate, saying, “Oklahoma small business owners can’t afford this massive tax hike. The 20% Small Business Deduction has allowed our job creators to expand their operations, raise wages, and boost employees’ benefits.”

The tax deduction in question was part of legislation enacted in 2017 to balance fiscal conditions for small businesses relative to larger corporations. This measure is currently set to expire at the end of 2025. By making the deduction permanent through the Main Street Tax Certainty Act, NFIB hopes to avert the impending tax increase and support the majority of America's small enterprises.

###