U.S. Representative Lloyd Smucker said on April 11 that the Main Street Tax Certainty Act, included in the Working Families Tax Cuts, makes permanent the 199A tax deduction for small businesses and pass-through entities.
The legislation is intended to provide stability for small businesses, which are a significant part of Pennsylvania’s economy. According to the U.S. Small Business Administration, Pennsylvania has more than 1.2 million small businesses employing 2.5 million people. These firms make up 99.6 percent of all businesses in the commonwealth and are critical to local economies in the 11th District.
“The Main Street Tax Certainty Act—my legislation signed into law as part of the Working Families Tax Cuts—makes permanent the 199A tax deduction that provides businesses with the certainty they need to grow, create jobs, and serve our communities,” Smucker said in a post on social media. The comment referred to his recent speech to the Lancaster Rotary Club about his work in Congress supporting small businesses through the new tax law.
Section 199A allows pass-through businesses to deduct up to 20 percent of qualified business income. The Main Street Tax Certainty Act makes this deduction permanent, delivering the stability small businesses require to invest and expand operations, according to information from the Internal Revenue Service.
Smucker owned and operated the Smucker Company, a family-owned commercial construction firm, for 25 years before entering politics. He previously served in the Pennsylvania State Senate from 2009 to 2016 before being elected to Congress in 2017. Smucker was born in Lancaster County in 1964 and currently lives in Lancaster.
