Since my appointment as the Mid-Atlantic Regional Administrator at the U.S. Small Business Administration (SBA) in April this year, I have traveled the Mid-Atlantic Region meeting small business owners in all facets of industries—from a hair salon in Denton, MD; to a ship repair and maintenance provider in Suffolk, VA; to a dairy farm in Pennsylvania. Whether I’m in a rural area in West Virginia or an urban area in Delaware, one thing remains the same—taxes are one of the top issues for small businesses.

The One Big Beautiful Bill (OBBB) extends the 199A passthrough deduction, which will generate $750 billion in economic growth and create over one million new Main Street jobs. There are an estimated 183,000 firms in Pennsylvania that could be eligible for the deduction, or about 43 percent of all firms.

In addition, the OBBB boosts take-home pay for the typical hardworking family. It is estimated to increase wages in Pennsylvania from $3,700 to $6,700 and protect 252,000 full-time equivalent jobs over the next four years if the Tax Cuts and Jobs Act had been allowed to expire.

The OBBB delivers tax cuts to working families and job creators. The SBA stands ready to empower entrepreneurs to start and grow their small businesses. Visit www.sba.gov to learn more about the SBA.

Jim Spencer, Regional administrator
U.S. Small Business Administration
Mid-Atlantic Region
Philadelphia, PA