GRAND ISLAND, NE – This week, the U.S. Chamber of Commerce and the Nebraska State Chamber & Industry hosted U.S. Representative Adrian Smith (R-NE-03) for a roundtable discussion in Grand Island, Nebraska with local business leaders on the need to extend pro-growth business tax provisions before portions of President Trump’s 2017 Tax Cuts and Jobs Act (TCJA) expire at the end of the year. Doing so will create new opportunities for American workers and businesses to thrive.
Absent Congressional action, the country will see the largest automatic tax increase in American history. U.S. Representative Adrian Smith is on the frontlines, working to ensure that the constituents of the 3rd District of Nebraska will not face this massive tax increase at the end of 2025.
“We thank Congressman Smith for working to ensure Nebraska's third District continues to benefit from the pro-growth policies enacted in the TCJA,” said John Kirchner, Vice President of Government Affairs at the U.S. Chamber of Commerce. “By taking the discussion outside of Washington, Congressman Smith has demonstrated his commitment to making sure the tax code better serves families and businesses across the country.”
“TCJA policies to increase the thresholds for Section 179 expensing and bonus depreciation were enormously effective to promote growth for small businesses,” said Congressman Smith. “If these tax cuts are allowed to expire, family farms, ranches, and small businesses would suffer from immediate and sharp rate increases. Nebraska business and industry leaders expect Congress to implement policies allowing them to plan and invest for the future, and I am working hard with my colleagues to provide this certainty in our tax code."
“In these uncertain economic times, it is more important than ever to avoid an enormous federal tax increase through failing to extend key TCJA tax rules enacted in 2017,” said Bryan Slone, President of the Nebraska Chamber of Commerce & Industry. “America’s economic competitiveness depends on it, as well as jobs and economic strength right here in Nebraska. We appreciate Congressman Smith’s efforts on the House Ways and Means Committee and in Congress in helping move the necessary legislation.”
The U.S. Chamber’s tax roundtables and business tour are the latest effort in its Growing America’s Future campaign, an education and advocacy blitz in support of maintaining a pro-growth tax code to foster a robust U.S. economy that benefits all Americans. These events will continue over the coming months in communities across the country.
