NAW applauds the House and Senate for moving forward with their respective budget resolutions and urges Members of Congress to support and vote for the House Budget Resolution to unlock comprehensive legislation necessary to prevent a massive tax increase on millions of America’s businesses and workers.

If tax provisions enacted by the Tax Cuts and Jobs Act of 2017 (TCJA) such as the 199A small business deduction are allowed to expire this year, as projected, the net result will be an unfathomable tax increase on 30 million small businesses, impacting 2.6 million workers supported by the provision. Workers across the country will face additional tax increases due to the expiration of lower individual tax rates, the doubled standard deduction, and the doubled child tax credit.

NAW members such as First Supply, a multigenerational, family-owned plumbing business, have made their voices clear. Wholesaler-distributors are predominantly high-tax, low margin businesses and have relied on TCJA provisions to offer well-paying, skilled jobs with extensive benefits and career development programs. If lawmakers fail to act, pass-through businesses could face a top tax rate of 39.6%, which will threaten the ability of our industry to continue re-investing in their workers and communities. The TCJA provisions have worked and should be permanently extended, giving certainty to pro-growth, pro-family, small business owners nationwide.

NAW is one of America’s leading trade associations, representing the $8 trillion wholesale distribution industry. Our industry employs more than 6 million workers throughout the United States, accounting for approximately 1/3 of the U.S. GDP. 250,000 wholesale distribution companies operate across North America, including all 50 states. Learn more at naw.org.