ATLANTA — U.S. Sen. Jon Ossoff partnered with Sen. Cindy Hyde-Smith of Mississippi to introduce bipartisan legislation helping small businesses grow through a tax cut.
The legislation, the Support Small Business Growth Act of 2025, would cut income taxes for qualifying small businesses that up to 15 employees.
If the bill passes, legislators would create a new tax deduction with businesses qualifying based on percentage of wages paid to employees during the year, if they also have less than 15 workers.
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“Small businesses are the backbone of our economy,” Ossoff said in a statement. “Our bipartisan bill will cut taxes for small businesses and make it easier for them to compete, grow and create jobs in our communities.”
Hyde-Smith echoed the sentiment, highlighting how the legislation, if passed, would help small, family-run companies.
“Small businesses often operate on a very thin profit margin, especially those with very few employees. This legislation would create a special tax deduction to help these small businesses, many of them mom-and-pop operations, retain workers and keep the doors open,” Hyde-Smith said.
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