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How the TCJA helped a small business like Pelican Pawn Shop Thrive — and what’s at risk if it expires
Chase Sharp, part-owner of Pelican Pawn Shop in Baton Rouge, Louisiana, has spent 30 years building a community-focused business that has provided affordable goods, meaningful jobs, and support for people in the community during tough times.
The 2017 Tax Cuts and Jobs Act provided the fuel to help his business expand while staying true to his roots. Tax savings allowed Chase to reinvest, improve operations, and open two new locations.
Now, the looming expiration of key portions of these tax cuts threatens the progress of this Baton Rouge community pillar and the stability of countless small businesses like it.
But this isn’t just about one business. Read on to see how the TCJA transformed Pelican Pawn Shop — and why its expiration could devastate small businesses in communities like yours.
A small business that drives community impact
Pelican Pawn Shop is more than a place to buy or sell goods — it’s a cornerstone of the Baton Rouge community. Chase’s efforts to grow the shop from three to five locations created new jobs and contributed to the local economy while also making affordable goods more readily available to families in need.
“When families experience financial stress, they often turn to shops like ours to find quality products at a fraction of the cost,” Chase explained. “We’re part of how this community gets by, and we take that responsibility seriously.”
Chase’s story reflects the broader role of small businesses in their communities. According to the U.S. Chamber of Commerce, small businesses account for 44% of U.S. economic activity and are key drivers of job creation and economic development.
How the TCJA empowered Pelican Pawn Shop
According to Akash Chougule, AFP vice president of government affairs, “The 2017 Tax Cuts and Jobs Act reduced the family tax burden by $2,000, lifted 6 million Americans out of poverty, and delivered record-low unemployment .”
Small businesses, the lifeblood of Baton Rouge, thrived under the TCJA, fueling Chase’s success.
- Boosted consumer spending: By lowering individual tax rates, the TCJA increased take-home pay for families — especially those in lower-income brackets. With more disposable income, people were able to shop more, fueling Chase’s customer base.
- Reinvestment opportunities: The lower corporate tax rate and pass-through deduction helped Chase to reinvest in his business. He got better inventory, improved customer services, and opened two new locations, creating even more jobs.
The threat of expiration looming over small businesses
Without these pro-growth policies, Chase would not have been able to expand or maintain his community support. If Congress lets the TCJA expire, Chase, his family, and his community could face tough times.
An expiration would mean a $1,500 tax increase for the average family of four, reducing disposable income.
But Chase isn’t just worried about his business — he’s also concerned about supporting his family during uncertain times. “When taxes go up for small business owners, it’s not just the business that suffers — it’s our families, employees, and communities,” he said.
Extending the TCJA is essential for small business success
The TCJA demonstrated how pro-growth tax policies can empower small businesses, strengthen families, and boost local economies. But if the law is allowed to expire, these incredible gains could reverse — putting businesses like Pelican Pawn Shop and entire communities at risk.
Small businesses need to know that the tax cuts will continue so that they can plan for the future. That’s why lawmakers need to act quickly.
By supporting small business owners, we also support the countless families and neighborhoods that depend on their success. Join us in the fight to protect small businesses and preserve local economic opportunity.
