Centennial State News

A recent poll conducted by the National Federation of Independent Business (NFIB) highlights significant bipartisan support for small businesses and the continuation of the 20% Small Business Tax Deduction. This tax benefit, originally part of the 2017 Tax Cuts and Jobs Act, is set to expire at the end of 2025 unless Congress takes action.

The survey reveals that over 80% of Americans believe that federal government support for small businesses is crucial, with 93% advocating for making the tax deduction permanent. Nearly 95% of respondents voiced concern over the potential consequences if the deduction were allowed to expire.

Brad Close, President of NFIB, stated, "This research reinforces the high stakes of this Congressional tax debate. Americans recognize the immense value of the 20% Small Business Tax Deduction and are concerned about the devastating consequences should Congress fail to act. NFIB strongly urges Congress to make the deduction permanent and deliver the certainty that small businesses need to continue to grow, hire, and give back to their communities.”

Michael Smith, NFIB Colorado State Director, emphasized the local significance by saying, “Coloradans believe in the power of small businesses to innovate and grow communities. Making the 20% Small Business Tax Deduction permanent is essential for our economic future.”

Findings from the survey demonstrate that 83% of participants prioritize federal support for small businesses, and 62% want to maintain the Small Business Tax Deduction in the tax code. Further, 77% acknowledge that the deduction helps level the playing field for small businesses in competition with larger corporations.

The survey identifies that 91% of Americans believe small businesses depend on the tax deduction, while 79% view its impact on the economy positively. Furthermore, 75% noted a positive local economic impact, and 51% expressed extreme concern about potential economic repercussions if the deduction expires.

Conducted by Seven Letter Insight for NFIB, the survey sampled 2,000 American voters, including an oversample of 500 small business owners. Conducted from March 21 to March 25, 2025, it presents a margin of error of +/-2.0%.

NFIB continues to advocate for making the 20% Small Business Tax Deduction a permanent fixture to prevent substantial tax increases that could hinder small business growth and employee wage improvements.