Nearly 200 small business owners tell Congress to pass 199A reform

On June 12, Small Business Majority and the Small Business Tax Reform Coalition sent a letter to the U.S. Senate, signed by nearly 200 small business owners from across the country, urging Congress to pass legislation similar to the Mom and Pop Tax Relief Act (H.R. 3249). The bill would replace the existing 20% passthrough deduction under Section 199A with a simplified deduction of up to $25,000. The letter highlights how H.R. 3249 would deliver more meaningful tax relief to millions of small businesses that have failed to see the benefits of the current 199A deduction.