— PROTECT COALITION, a newly formed alliance of small, medium and large businesses across a variety of sectors that oppose the expiration of Section 199A, the Qualified Business Income Deduction, is officially launching. The coalition’s mission is to defend vital tax incentives that support the growth and sustainability of successful small businesses across the nation.
In light of the pending expiration of the 2017 Tax Cuts and Jobs ACT, the PROTECT Coalition is stepping forward to ensure that the voices of small business owners are heard. These tax incentives are critical to the financial health of small businesses, allowing them to reinvest in their operations, hire more employees, and contribute to local economies.
“Protecting small businesses, the backbone of our economy, is not a partisan issue. We will be reaching out to policymakers on both sides of the aisle and asking them to protect these important tax deductions. We see this as essential to their survival,” said Russ Sullivan, a spokesperson for the PROTECT Coalition who served for 14 years on the Senate Finance Committee. “The PROTECT Coalition is executing a plan for long-term extension regardless of who wins in November.”
The coalition’s primary goals include:
- Advocating for the Preservation of Key Incentives. The coalition will work to protect incentives that are vital to businesses, such as those for operating expenses, equipment purchases, and healthcare benefits.
- Raising Awareness: Through outreach and education efforts, the coalition aims to inform small business owners about the potential risks posed by changes in tax law and how they can get involved in advocacy.
- Engaging with Policymakers: The PROTECT Coalition will engage with lawmakers at both the state and federal levels, providing them with data and real-life examples of how these incentives impact emerging businesses and local economies.
- Building a Strong Network of Support: By uniting small businesses, tax professionals, and advocates, the coalition seeks to create a powerful voice that can influence policy decisions and safeguard the interests of entrepreneurs.
“The Real Estate Roundtable is composed of 8 national real estate trade association partners, representing more than one million people involved in virtually every aspect of the real estate business. Losing 199-A tax incentives could risk permanent damage to these businesses and their employees. Supporting small businesses across the board is crucial to the stability of local economies. The future of our economic prosperity begins and ends with small and medium-sized businesses; helping those doors stay open must be a top priority for Congress.” – Ryan McCormick, spokesperson with The Real Estate Roundtable.
The launch of the PROTECT Coalition comes at a critical time, as businesses continue to navigate the economic uncertainties brought on by high interest rates, emerging technologies, and other market challenges. By safeguarding these essential tax deductions, the coalition aims to create a more stable and supportive environment for all businesses to thrive.
For more information about the PROTECT Coalition and how you can get involved, visit protectcoalition.com or email [email protected]
About the PROTECT Coalition
The PROTECT Coalition is a collective of small business owners and advocates dedicated to preserving vital tax deductions that support the growth and sustainability of small businesses. The coalition works to ensure that tax policies are fair and beneficial to the small business community.
Comments are closed