South Iowa News

Representative Zach Nunn from Iowa's Third Congressional District participated in a roundtable discussion with business leaders from the U.S. Chamber of Commerce and the Iowa Association of Business and Industry. The meeting, held on Monday, focused on extending key aspects of the Tax Cuts and Jobs Act of 2017, set to expire by the year's end.

Expressing gratitude for the engagement of business leaders, Rep. Nunn stated, “Thanks to the U.S. Chamber and Iowa ABI for bringing together the voices that matter most in this tax debate—Iowa’s job creators. What I heard on Monday was clear: Main Street wants to invest, grow, and hire, but they need certainty to do it. That means extending the Trump tax cuts that fueled record-breaking growth in our communities. I’m fighting to make sure Iowa businesses continue to thrive.”

He voiced concerns about the potential impacts of the tax provisions' expiration, which could lead to the "largest automatic tax increase in American history." Estimates suggest Iowans' annual tax bills could increase by $2,000 to $6,000 if Congress does not act. In particular, the potential expiration of the Small Business Tax Deduction poses a significant risk, with 90% of Iowa's small businesses potentially facing higher taxes, according to the National Federation of Independent Business.

Thomas Wickham from the U.S. Chamber of Commerce spoke in favor of Rep. Nunn's efforts, reflecting, “The U.S. Chamber thanks Congressman Nunn for his commitment to pro-growth tax policy, which is crucial to the continued prosperity and stability of all Americans.” He added that extending the tax provisions of the TCJA would encourage local businesses to grow and create jobs.

Nicole Crain, President of the Iowa Association of Business and Industry, also expressed gratitude, noting, “ABI members appreciated the opportunity to speak with Congressman Nunn about the importance of the 2017 pro-growth tax reforms, which have allowed Iowa businesses to invest in new equipment, increase wages, and plan for long-term growth.” She emphasized the need for permanent reforms to ensure continued economic progress in Iowa.

Images from the event are available for viewing.