COLUMBUS, Ohio – A new survey released by the National Federation of Independent Business, Ohio’s leading small business advocacy organization, shows broad, bipartisan support for America’s small businesses, along with overwhelming support for keeping the 20% Small Business Tax Deduction in the tax code.

According to the survey, more than 8 in 10 Americans feel it is important for the federal government to support small businesses, including strong majorities of Republicans, Democrats and independents. That support translates to strong agreement (93%) that making the 20% Small Business Tax Deduction permanent should be a top priority for Congress, with nearly all Americans (95%) expressing some concern about the impact an expiration of the deduction would have.

“This research highlights the value of the 20% Small Business Deduction to small business owners and everyday Americans alike,” said Chris Ferruso, NFIB Ohio state director. “The 20% Small Business Deduction helps boost the small business economy, and owners are concerned about the devastating consequences if Congress fails to act. NFIB and Ohio small business owners strongly urge 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.”

Key findings from the nationwide poll include:

  • 83% of respondents said it is important for the federal government to support small businesses; 45% believe supporting small businesses is extremely important.
  • More than two-thirds of Republicans (83%), Democrats (86%) and independents (79%) said federal support for small businesses is important.
  • Nearly 8 in 10 (79%) want to see more support for small businesses.
  • 62% of respondents want to keep the Small Business Tax Deduction in the tax code, while only 1 in 5 supports letting it expire.
  • 77% agree that the Small Business Tax Deduction helps level the playing field for small businesses by keeping their tax rates closer to those of larger corporations. 
  • 91% agree that small businesses rely on the Small Business Tax Deduction.
  • 79% believe the Small Business Tax Deduction has a positive impact on the economy overall.
  • 75% believe the Small Business Tax Deduction has a positive impact on the local economy where they live.
  • 51% are extremely or very concerned about the impact on the economy if the Small Business Tax Deduction expires. Nearly all Americans (95%) express some concern about the impact an expiration of the deduction would have.

The 20% Small Business Deduction was established under the 2017 Tax Cuts and Jobs Act to level the playing field between small businesses and their large, corporate competitors. However, the deduction is set to expire at the end of 2025. Without Congressional action, 9 out of 10 small businesses will be hit with a massive tax hike.