After four years of record prices, regulation and low growth, America’s economy is regaining strength. Inflation is at a four-year low. Wage growth is strong, with more than 620,000 new jobs added since January. Business investment is accelerating and optimism is returning. Underpinning that momentum is President Donald Trump’s pro-growth policies – and the small businesses his agenda is built to strengthen.
With the “One Big, Beautiful Bill Act of 2025,” Republicans are working to solidify Trump’s agenda with the most sweeping tax and entitlement overhaul ever – to ensure the Main Street comeback isn’t temporary, but lasting.
Since February, I’ve traveled across the country meeting with small business owners in nearly every sector – from family farms and factory floors to the Main Street cornerstones of restaurants and retailers. Their message is clear: they don’t want bailouts, bigger tax bills or bureaucracy. They want a tax code that enables them to plan for the long term, puts more money in their pockets, and rewards – not punishes – work, entrepreneurship and growth. This bill delivers on all three.
THE ‘ONE BIG, BEAUTIFUL BILL’ URGENTLY NEEDS A MAKEOVER TO USHER IN TRUMP’S GOLDEN AGE
Thanks to Trump’s commitment to ending wasteful spending, data shows that inflation is no longer the top concern for small businesses. Today, the threat of rising taxes has taken the top spot. Unless Congress acts soon, the 2017 Trump tax cuts will expire, raising the top tax rate on small business pass-through income to 43.4%. That would hit more than two-thirds of small business owners, most of whom file taxes as individuals.
The “One Big, Beautiful Bill” prevents the largest tax hike in history. It makes the 2017 tax cuts permanent, including the Section 199A deduction – leaving more capital in the hands of America’s 34 million small business owners to hire, expand and reinvest in their operations. This provision alone is projected to create 1 million new jobs on Main Street and generate $750 billion in economic activity over the next decade.
The bill also keeps cash in the wallets of blue-collar Americans. With no taxes on tips or overtime, it raises take-home pay for our workers without increasing costs for their employers. It repeals the IRS’s $600 reporting rule, which created compliance headaches for millions of gig economy workers and small sellers. It increases the Child Tax Credit and standard deduction for working families. And it protects family farms from the death tax – preserving generational assets rather than taxing them twice.
To address the post-pandemic labor shortage, the bill incentivizes work, with work requirements for able-bodied adults without dependents receiving Medicaid benefits, bringing nearly 4.8 million Americans back into the workforce and removing 1.4 million illegal aliens who do not qualify for Medicaid. At a time when small businesses are still struggling to hire, this is a necessary step to align government incentives with opportunity to pursue the American Dream.
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The legislation also reinforces a key goal of Trump’s economic vision: Made in America. Companies that manufacture here will benefit from targeted tax incentives, including interest deduction for American-made vehicles. They can take advantage of full expensing for investments in capital and equipment, R&D and factory construction. These provisions don’t just encourage domestic production – they renew our industrial base and create good-paying jobs for American workers.
Finally, the bill tackles one of the most overlooked obstacles to small business success: regulatory overreach and costs. Under the Biden administration, Washington added an estimated $5.8 trillion in new regulations. The “One Big, Beautiful Bill” reins in those costs, clears out bureaucratic red tape, and restores a business climate where job creators can focus on growing – not just staying afloat.
IT’S TIME FOR CONGRESS TO DELIVER PRESIDENT TRUMP’S ‘BIG, BEAUTIFUL BILL’ TO HIS DESK
Support for the bill spans party lines – just not in Washington. A majority of small business owners, including many left-leaning entrepreneurs, back the legislation’s core provisions. That’s because these ideas aren’t ideological – they’re practical. They reflect the real-world perspectives of the people who show up every day to keep our communities running.
Unlike his predecessor, Trump has never lost sight of those who drive the American economy. The “One Big Beautiful Bill” is a reflection of his commitment to working families and small businesses. It delivers real tax relief, trims Washington overreach, rewards work and puts small businesses back where they belong – at the center of America’s success story.
Congress should act without delay. Small businesses are ready to keep building, hiring and innovating – this time with most in Washington finally behind them.
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