With summer in full swing and Labor Day approaching, the National Federation of Independent Business (NFIB) has highlighted recent achievements and future goals for small businesses. Notably, NFIB successfully advocated for the permanent inclusion of the 20% Small Business Deduction in the U.S. tax code, signed into law by President Trump on July 4 through the One Big Beautiful Bill Act.
“President Trump and Congress have the gratitude of 33 million American small business owners, who are all breathing a huge sigh of relief,” stated NFIB President Brad Close. “This bill provides them the certainty and level playing field needed to grow, hire new workers, provide for their employees, and give back to their communities.”
Looking forward, NFIB aims to repeal the Beneficial Ownership Information requirement and registry. Small business owners are pushing for Congress to eliminate this law and for FinCEN to destroy submitted data.
In Utah, NFIB achieved a reduction in state income tax and liability reform for small businesses this year.
The NFIB’s Small Business Problems & Priorities report continues to rank healthcare costs as a top concern among small business owners over several decades. Additionally, interest rates have risen significantly in importance according to recent reports.
Recent surveys reveal that while many businesses haven’t adopted new technologies due to cost or complexity concerns, financial support remains a key method of community contribution by small businesses.
For further details or inquiries, contact NFIB Idaho State Director Suzanne Budge at sbs@sbsidaho.com or Tony Malandra at anthony.malandra@nfib.org.
