New Study Confirms Senator Daines, Rep. Smucker Small Business Tax Deduction Supports Millions of American Jobs, Spurs Economy

U.S. Senator Steve Daines (R-MT) and Congressman Lloyd Smucker (R-PA-11) today shared a new study from Ernst and Young (EY) highlighting the economic activity supported by their small and family-owned business tax deduction. The Section 199A deduction provides a 20 percent deduction for pass-through businesses, allowing these businesses to reinvest their hard-earned capital, increase wages and hire more employees. The new study found that 2.6 million jobs and $325 billion of GDP are supported by the deduction. Daines and Smucker introduced the “Main Street Tax Certainty Act” to make this 20 pe...