Tax Cuts Now.

Small Businesses Need Tax Cuts Now.

Small businesses have borne the brunt of the Democrats’ bad economy. Historic inflation, over-regulation, and crime have placed a huge burden on Main Street and its customers. The Tax Cuts and Jobs Act – which is set to expire at year-end — has been a lifeline and needs to be extended now. Small businesses need tax certainty to invest, hire, and plan for the future. We can’t risk getting left behind again.

JCN polling shows American small businesses supported Trump over Harris by 16 points. In recognition of this support, President Trump and Speaker Johnson have united to pursue “one powerful Bill” with tax cuts at its heart. Help us make extending small business tax cuts legislative priority number one and jumpstart the Main Street economy. 

Republicans should look to expand the TCJA while extending it. To do even more good for Main Street, legislators should raise the existing 20% small business tax deduction to 25%, broaden this deduction to more small businesses, and ensure small businesses receive 100% immediate expensing every year.

Fiscal concerns should not hold up tax cuts. Inflation-adjusted federal tax revenues (not including tariffs) have significantly grown since the TCJA passed. Tax collections for fiscal 2024 were half a trillion dollars higher than CBO had projected without the tax cut. As President John F. Kennedy put it in 1963, “Reducing taxes is the best way open to us to increase revenues.”

Tax Cuts Now will reward small businesses for making it through the bad years of the Biden administration, encourage new entrepreneurs to grow the economy and live the American Dream, and Make America Great Again.