Since my appointment as the mid-Atlantic regional administrator at the U.S. Small Business Administration in April, I have traveled the region meeting small-business owners in all facets of industries — from a hair salon in Denton, Maryland; to a ship repairer and maintenance provider in Suffolk, Virginia; to a dairy farm in Pennsylvania. Whether I’m in a rural area in West Virginia or an urban area in Delaware, one thing remains the same: Taxes are one of the top issues for these companies.
The Trump administration’s “Big Beautiful Bill” extends the 199A passthrough deduction, which will generate $750 billion in economic growth and create over 1 million new Main Street jobs. There are an estimated 16,000 firms in Delaware that could be eligible for the deduction, or about 36% of all businesses.
In addition, the bill boosts take-home pay for the typical hardworking family. It is estimated that it will increase annual wages in Delaware between $4,000 and $7,100 and will protect 20,000 full-time-equivalent jobs over the next four years, compared to if the Tax Cuts and Jobs Act had been allowed to expire.
In addition, the legislation delivers tax cuts to working families and job creators. The SBA stands ready to empower entrepreneurs to start and grow their small businesses. Visit sba.gov to learn more.
Jim Spencer
Mid-Atlantic regional administrator, U.S. Small Business Administration
Reader reactions, pro or con, are welcomed at civiltalk@iniusa.org.
