Over the last three years, I’ve made 226 trips to farms, schools, businesses, police departments, workforce training centers, cooperatives, ethanol plants, and food pantries on my biannual 36 County Tour. At each stop, I have had meaningful conversations with Iowans about their policy priorities at the federal level and real discussions about how we can work together to deliver real results for our families, farmers, small businesses, and rural communities. Making a positive impact on the 36 counties that I represent through sound and beneficial policies is my ultimate motivator.
During my travels, I’ve also had the opportunity to tour businesses large and small and visit many beautiful main streets in towns of less than 300 people and cities of over 10,000. As a former city administrator in my hometown of Hull, I know – from experience – that our main streets are only as strong as the folks who have taken great financial risk to start a business and live the American Dream. Without entrepreneurs and hardworking business owners, our main streets would be a shell of what they are today.
However, thanks to the Biden administration’s reckless spending policies and burdensome regulations, our small businesses are struggling in today’s economy. According to a recent report by the National Federation of Independent Business, small-business optimism about the economy declined in August, which marks the twentieth consecutive month that small business owners have registered their negative outlook on economic conditions below the 49-year average. Inflation also remains the top challenge for small businesses as high operating and input costs persist with little to no wiggle room in the budget. In short, small businesses need relief to keep their doors open and folks on the payroll.
To deliver this critical relief, I recently helped introduce the Main Street Tax Certainty Act, which would permanently allow Iowa small businesses to deduct 20% of their qualified business income from their federal taxes. This tax cut – which was first authorized as part of the Tax Cuts and Jobs Act of 2017 and expires in 2025 absent congressional action – allows business owners to invest in their employees, finance expansions, weather economic downturns, and keep more of their hard-earned money. By permanently keeping taxes low for our business community, we can grow our economy, support our families, and keep our rural communities strong.
When I was selected to serve on the House Ways and Means Committee, I promised that I would support policies that help our main street businesses thrive and turn a profit. The Main Street Tax Certainty Act reflects that promise and will ensure that our small businesses continue to benefit – uninterrupted – from this much-needed tax cut.
We are government together, and your thoughts and opinions matter to me. Please contact my office at Feenstra.House.Gov or by phone at 202-225-4426 if I can ever be of assistance. I am proud to represent our families, farmers, main street businesses, and rural communities in Congress.