Golden State Today

KABC radio's Mottek on Money program recently featured Brad Close, President of the National Federation of Independent Business (NFIB), to discuss a pressing issue for small businesses. The focus was on NFIB's primary federal concern: preventing the expiration of the 20% Small Business Deduction by year-end.

In a brief six-minute interview, Close emphasized the urgency of congressional action. "We are urging Congress to do it soon," he stated. He highlighted the benefits provided by this deduction, which is part of the 2027 Tax Cuts and Jobs Act. "There’s really no need to wait. This is a provision that has really helped small business owners create new jobs, create new benefits, buy new machinery, expand their business. It’s something they’ve used and will have a huge impact on the economy going forward if it’s made permanent."

Close warned that without making this deduction permanent, approximately 26 million small businesses could face significant tax increases. This conversation follows an earlier interview with Frank Mottek in September regarding the same deduction.

For further details, listeners are directed to Stop the Small Business Tax Hike.