Mid City Times

Congresswoman Beth Van Duyne recently held a roundtable discussion in Grand Prairie, Texas, with local business leaders to address concerns about the impending expiration of key provisions from the 2017 Tax Cuts and Jobs Act. The meeting included representatives from the Wine and Spirits Wholesalers of America (WSWA) and other members of the Main Street Coalition.

The discussion focused on the Section 199A deduction, which is set to expire in 2025. This provision has been crucial for small businesses, allowing them to reinvest in their operations and communities. Congresswoman Van Duyne emphasized her commitment to working with colleagues on the Ways and Means Committee to create a tax code that fosters growth and opportunity.

"On top of the challenges created by inflation and high interest rates, North Texas small businesses are facing a massive tax increase next year," said Van Duyne. She highlighted the importance of renewing and expanding the Trump-era tax cuts.

Dwayne Carson from WSWA praised Van Duyne's leadership: "To be able to have 25 Texan business leaders in the same place reiterating the importance of the Section 199A deduction... underscores the value of the work we are doing."

Kevin Carey from the American Hotel and Lodging Association also expressed gratitude for Van Duyne's efforts: "We thank Rep. Beth Van Duyne for her leadership on this issue."

Deb Mazol from the National Roofing Contractors Association echoed these sentiments, noting that stable tax rules help businesses improve wages and benefits.

Cynthia L. Blankenship from Bank of the West warned that letting Section 199A expire could harm community banks: "The expiration... would make it harder for community banks to remain independent."

Marco Giamberardino from NECA stressed how vital this deduction is for electrical contractors across America.

The Tax Cuts and Jobs Act brought significant relief through Section 199A but faces potential expiration soon. With this looming challenge, Congresswoman Van Duyne aims to maintain these benefits as part of her role on two important tax teams within Congress.