Rep. Van Duyne Holds Tax Roundtable in Grand Prairie with Local Business Leaders

Grand Prairie, TX - Yesterday, Congresswoman Beth Van Duyne (TX-24) held a roundtable with North Texas business leaders, including from the Wine and Spirits Wholesalers of America (WSWA) and other members of the Main Street Coalition. After touring Republic National Distributing Company's Grand Prairie facility, Rep. Van Duyne led the more than two dozen participants in discussion about expiring provisions of the 2017 Tax Cuts and Jobs Act, including the 199A deduction.

"On top of the challenges created by inflation and high interest rates, North Texas small businesses are facing a massive tax increase next year. I'm working with my colleagues on the Ways and Means Committee to create a tax code built for growth, opportunity, and empowering the American people. I appreciated hearing from our local job creators about the importance of renewing and expanding the 2017 Trump tax cuts, particularly the 199A deduction that has allowed our family businesses to reinvest in our community," said Congresswoman Van Duyne.

"To be able to have 25 Texan business leaders in the same place reiterating the importance of the Section 199A deduction to their companies underscores the value of the work we are doing. America's family-owned wine and spirits distributors are reinvesting in their employees and communities - moving the economy forward and helping to provide jobs to hardworking Americans - the potential expiration of Section 199A puts all of that at risk. We're extremely grateful to Congresswoman Van Duyne for her leadership on this issue," said Wine & Spirits Wholesalers of America Senior Director, Government Affairs Dwayne Carson.

"The small business tax deduction created through the Tax Cuts and Jobs Act has enabled Texas hoteliers to reinvest back in their businesses, hire additional employees, and enhance the guest experience. With this critical tax provision expiring next year, we thank Rep. Beth Van Duyne for her leadership on this issue and for listening to the concerns of the Texas hotel and lodging industry. We look forward to working with Congress to extend the small business deduction and other pro-growth tax policies," said American Hotel and Lodging Association Interim President & CEO Kevin Carey.

"We are grateful for Congresswoman Van Duyne's leadership to highlight tax relief that ensures our members have the support they need to reinvest in their businesses, employees and the community. Her efforts to keep tax rules, like the 199A deduction, stable help businesses pay better wages, improve employee benefits, and contribute to important causes like the Ronald McDonald House. We're grateful for her dedication to the roofing industry's success," said Deb Mazol, National Roofing Contractors Association.

"I wish to thank Representative Van Duyne for convening this Roundtable to highlight the importance of Section 199A to local businesses from various industries. As a community bank in the DFW metro area, Section 199A has strengthened my bank and allowed me to better serve our small businesses, families, and individuals. The expiration of Section 199A would make it harder for community banks to remain independent and promote consolidation in the banking industry. This would be particularly harmful to American small businesses that rely on community bank credit. Leveraging their insight into local economic trends, community banks make 60 percent of small business loans, which is far above their share of bank assets," said Cynthia L. Blankenship, Vice Chairman and Corporate President, Bank of the West, Grapevine, TX.

"The 199A tax deduction is crucial for our electrical contractors, helping them reinvest in their businesses, create jobs, and support our communities. The National Electrical Contractors Association is deeply grateful to Congresswoman Beth Van Duyne for her tireless efforts and leadership in holding this important field hearing. The National Electrical Contractors Association also thanks the members of the Ways and Means Committee for continuing to spotlight the importance of the 199A deduction for S corporations, which ensures the vitality and growth of small businesses across the nation," said Marco Giamberardino, Senior Vice President, Government and Public Affairs for the National Electrical Contractors Association.

Background: The Tax Cuts and Jobs Act of 2017 brought significant tax relief to America's family-owned businesses through Section 199A. However, key provisions, including the 199A deduction, are set to expire in 2025. If allowed to lapse, pass-through businesses could face tax rates over 16% higher than their corporate competitors, putting them at a significant disadvantage.

Looking ahead to 2025, Ways and Means Committee Chairman Jason Smith created ten Tax Teams tasked with identifying legislative solutions that build on the success of the Trump tax cuts to provide a pro-growth, pro-worker vision for the future and an alternative to the looming $7 trillion tax hike.

Congresswoman Van Duyne was appointed as Vice Chair of the New Economy Tax Team and serves on the Main Street Tax Team.

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