Small business owners urge Congress to reform the Sec. 199A deduction

On May 13, Small Business Majority and the Small Business Tax Reform Coalition submitted a letter, signed by nearly 100 small business owners, to the House Committee on Ways & Means in support of 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. During the Committee’s reconciliation markup, Rep. Gwen Moore (WI-04) introduced H.R. 3249 as an amendment and submitted the letter for the record.