With the summer months underway and Labor Day approaching, the National Federation of Independent Business (NFIB) highlights its achievements for small businesses and outlines future challenges.
The NFIB successfully advocated for making the 20% Small Business Deduction a permanent part of the U.S. tax code. This victory was achieved when President Trump signed the One Big Beautiful Bill Act on July 4. “President Trump and Congress have the gratitude of 33 million American small business owners, who are all breathing a huge sigh of relief,” said NFIB President Brad Close in a news release sent right after the signing. “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 ahead, NFIB aims to repeal the Beneficial Ownership Information requirement and registry. While current reporting requirements do not apply to U.S. small business owners, they are urging Congress to repeal this law.
In Idaho, NFIB has helped secure $253 million in income tax relief, $100 million in property tax relief, and $50 million in grocery tax relief.
NFIB’s Small Business Problems & Priorities report ranks health care costs as the top concern for small business owners over several decades. The report also notes that interest rates have seen a significant rise in concern among small businesses.
Additionally, NFIB conducts monthly reports on job openings and hiring plans through its Jobs Report and measures optimism with its Small Business Optimism Index survey.
Recent surveys include findings on technology adoption by small businesses and contributions to community support through financial aid or volunteering efforts.
For more information, contact Suzanne Budge at sbs@sbsidaho.com or Tony Malandra at anthony.malandra@nfib.org.
