STATE WIDE–Thousands of small businesses in Indiana are doing better thanks to Tax Cuts and Jobs Act of 2017, said Juanita Duggan, president and CEO of the NFIB (National Federation of Independent Businesses), a national small business association. Those businesses are filing taxes for the first time under the Act for the first time.
“There is a 20 percent small business deduction that was approved by Congress,” she said. Duggan said she believes that tax relief is what has given small businesses the confidence to hire more people, which has resulted in record low unemployment for Hoosiers.
“It’s the largest tax cut in history and we’re seeing that permeate the small business economy and it’s resulted in the best economy for small businesses in 50 years.”
But, she said the tax cust for small businesses aren’t permanent. Duggan said she and the NFIB was Congress to make that happen.
“Businesses need to plan for the long-term. They can’t plan if they have the largest tax cut in history that’s gonna fall off a cliff in seven years,” she said.
Audio titled JUANITA DUGGAN INTERVIEW by 93WIBC
Duggan said she believes a move to make the tax cuts permanent would have support from Indiana’s Congressional delegation.
“Your new senator, Mike Braun, is a card-carrying member of NFIB and has been for 30 years. He understands small business very well. Your other senator, Todd Young, has a 100 percent voting record with NFIB and we have a close working relationship with him,” said Duggan.
She said her organization has also worked with Gov. Eric Holcomb.