The National Federation of Independent Business (NFIB) has introduced two digital tools aimed at helping small business owners, policymakers, and the public in Virginia comprehend the economic implications of the 20% Small Business Tax Deduction. These tools are designed to highlight what could be at stake if Congress does not make this deduction permanent.
One tool is an interactive map that demonstrates how extending the Small Business Deduction might foster job creation and GDP growth across Virginia’s congressional districts. Additionally, NFIB has launched a tax calculator to provide personalized estimates for small business owners in Virginia regarding potential federal income tax increases they may face in 2026 if the deduction expires.
“Small business is the backbone of Virginia’s economy,” said NFIB State Director Julia Hammond. “Congress needs to move quickly to preserve this essential tax deduction.”
According to NFIB’s interactive map, extending the deduction could result in nearly 64,000 new jobs and $3.9 billion in GDP growth for Virginia over the next decade. The district-level data allows lawmakers and local leaders to see precisely how small businesses in their areas could benefit from making the tax deduction permanent or suffer losses if it is not extended.
The tax calculator assists individual small business owners by projecting potential tax increases if the deduction is not continued. For instance, a Virginia small business owner with a personal income of $75,000 and qualified business income of $150,000 might experience a tax increase exceeding $13,000 based on their full financial profile.
“We also applaud the U.S. House of Representatives for passing the One Big Beautiful Act this morning,” added Hammond. “The One Big Beautiful Bill Act is one of the most pro-small business pieces of legislation in recent history, and Congress has a historic opportunity to provide over 33 million small business owners with permanent tax relief.”
For more information about these tools and NFIB’s efforts to support Virginia’s small businesses, visit www.SmallBusinessDeduction.com.
