WASHINGTON—Idaho Congressman Mike Simpson cosponsored the Main Street Tax Certainty Act. This bill would permanently extend Section 199A of the Internal Revenue Code, which is slated to expire at the end of this year. Should these tax cuts expire, small businesses will face an immediate and massive tax hike.

This legislation is led by Rep. Lloyd Smucker (R-PA) with support from more than 170 cosponsors in the House of Representatives. This legislation is also supported by over 230 organizations.

“Small businesses are the backbone of Idaho’s economy. Making permanent Section 199A is good for the economy, small businesses, and American families—we must get this done. I look forward to working with my colleagues and the Trump administration to renew key expiring provisions of the Tax Cuts and Jobs Act and prevent damaging tax hikes and increases for Idahoans,” said Rep. Simpson.

“When small businesses thrive, our communities thrive. Small businesses need predictability and making Section 199A permanent will provide Main Street with the certainty they need to invest in their workforce, operations, and community. This pro-growth policy will ensure small businesses maintain tax parity with larger corporations. As Congress works with the Trump administration to renew expiring provisions of the Tax Cuts and Jobs Act, I will continue to fight for Section 199A and tax policies to support small businesses and families,” said Rep. Lloyd Smucker.

U.S. Senator Steve Daines (R-MT) has introduced companion legislation in the U.S. Senate.