NEFI joined more than 90 trade associations and pro-business organizations in signing a letter thanking Congress for enacting the Working Families Tax Cut Act, a key component of last year’s “One Big Beautiful Bill.” The letter was sent yesterday as millions of Americans file their taxes and experience the benefits of the law firsthand.

Without congressional action, the signatories note, employers and workers would have faced the largest tax increase in the nation's history. That burden would have fallen hardest on the 95 percent of American businesses structured as pass-through entities, including S-corporations, partnerships, and sole proprietorships, which employ nearly two-thirds of all private sector workers.

The coalition praises several provisions, including the law’s permanent extension of lower individual marginal rates and Section 199A small business deduction, which help pass-through businesses compete on a more level playing field with larger C-corporations. The letter also applauds the restoration of 100 percent bonus depreciation, full expensing for research and experimentation costs, and eased interest expense caps, all measures that encourage investment, innovation, and job creation.

The signatories call the package a generational victory for Main Street business owners that will boost investment, expand opportunity, and help keep consumer prices in check. NEFI is proud to stand alongside this broad coalition in support of policies that strengthen small businesses and the communities they serve.

Click here to read the full letter.