NFIB highlights top legislative priorities for small businesses in 2024
Washington DC (February 21, 2024) – National Federation of Independent Business (NFIB)The nation's leading small business advocacy organization has released its “Top 10 Policy Priorities for 2024.'' This list provides an overview of the key legislative issues that will impact small businesses across the country next year, from onerous reporting requirements to harmful tax increases.
“Main Street businesses have faced unprecedented economic headwinds in recent years, from record inflation to historic labor shortages,” he said. Jeff Brabant, NFIB Vice President for Federal Government Relations. “Despite these challenges, small business owners continue to strive to serve their customers, employees, and communities. However, excessive regulatory hurdles, looming tax increases, and ever-rising operational challenges Costs can make it more difficult than ever for small businesses to grow and prosper. Now is the time for Congress to address important issues impacting Main Street and prioritize small business-friendly legislation, including: It's time. Main Street Tax Security Act Other policies that strengthen the small business economy. ”
The small business community is asking lawmakers to:
1. Make the small business deduction permanent.
2. Stop issuing unnecessary and burdensome regulations.
3. Increase competition in the credit card network market and prevent megabanks and credit companies from engaging in anticompetitive practices that harm small and medium-sized businesses.
4. Prevent tax increases on small business owners.
5. Reduce medical costs and burdens on small and medium-sized businesses.
6. End the Financial Crimes Enforcement Network's cumbersome and intrusive small business owner registry.
7. Provide small business owners with the information they need to obtain the right to repair products for consumers.
8. Pass legislation to reduce energy costs for small business owners.
9. Eliminate the $600 reporting threshold for third-party payment apps like Paypal and Venmo.
10. Reform regulatory processes to ensure that governments take into account the unique needs of small business owners.
Learn about NFIB's Top 10 Policy Priorities for 2024 here.
