ARA Signed Letter to Congress in Support of Main Street Businesses
Jun 22 2021
ARA and the undersigned organizations sent a letter to Congress Committee members to voice strong opposition to any reductions or repeal of the 20 percent deduction for qualified business income under Section 199A, an essential part of the Tax Code.
Without Section 199A, individually- and family-owned Main Street businesses would pay significantly higher taxes, putting them at a competitive disadvantage and accelerating the economic consolidation taking place in our economy. Individually- and family-owned businesses are the backbone of the economy and employ the majority of private-sector workers, according to the letter.
Read the letter to learn more about how Section 199A provides critical tax relief to these businesses, including ag retailers, and enables them to reinvest more in their employees and the communities they serve.