ISSA Supports Act Seeking to Make Qualified Business Income Deduction Permanent
ISSA has signed onto a coalition letter with more than 100 other organizations in support of H.R. 216, the Main Street Tax Certainty Act of 2019. According to the letter this legislation “would make permanent the Section 199A 20% qualified business income deduction.” ISSA supports this bipartisan legislation because many of our members are organized as S corporations, partnerships, and sole proprietorships. Making this deduction permanent will give many of our members permanent tax relief.
John Nothdurft, ISSA director of government affairs, praised the bill’s introduction saying, “This bipartisan piece of legislation is critical helping small businesses stay competitive. ISSA members across the entire cleaning supply chain are operating with increasingly decreasing margins in part due to the rising cost of labor and regulations. Making this tax deduction permanent will give many of our distributors, manufacturers, and business service contractors the certainty and relief needed to operate and grow their businesses. Thank you to U.S. Representatives Jason Smith (R-M) and U.S. Henry Cuellar (D-TX) as well as Senator Steve Daines (R-MT) for their leadership on this important issue.”
For more information on the tax implications of this bill, tune in to this video.