The National Federation of Independent Business (NFIB), the small business advocacy organization, has released two digital tools intended to help small business owners, policymakers, and the public in New Jersey understand the economic impact of the 20% Small Business Tax Deduction and what’s at stake if Congress fails to make it permanent.
The new tools include an interactive map that allows users to explore how extending the small business deduction would create jobs and boost GDP growth in every New Jersey congressional district. NFIB also launched a tax calculator to provide small business owners in New Jersey with personalized estimates of how much more they could owe in federal income taxes in 2026 if the deduction expires.
“These new tools give small business owners and elected leaders in New Jersey real data about the economic stakes,” said Eileen Kean, state director for NFIB in New Jersey. “If Congress fails to act, millions of small businesses across the country—including right here in New Jersey—will face a massive tax hike. That means fewer jobs, less investment, and slower growth for our communities. We urge Congress to make the 20% Small Business Tax Deduction permanent.”
According to NFIB’s interactive map, if the deduction is extended, New Jersey could see an increase of 73,248 jobs and $4.83 billion in GDP over the next decade. The district-level data allow lawmakers and local leaders to understand how small businesses in their communities stand to gain when the tax deduction is made permanent—or lose if it is not.
The tax calculator helps individual small business owners project their potential tax increase if the deduction is not extended. For example, a New Jersey small business owner with a personal income of $75,000 and qualified business income of $150,000 could see a tax increase of more than $13,000, depending on their full financial profile.
