WASHINGTON, D.C. – Restoring, extending, and expanding key provisions from the successful 2017 Trump tax cuts like the small business deduction, immediate 100% expensing, incentives for new manufacturing facilities, R&D immediate amortization, and interest expense deductions will boost job creation, economic growth, and investment in America’s economy. The tax policies in the legislation will boost manufacturing wages by $126 billion and spark $284 billion in manufacturing-based economic growth. They will unlock $1.5 trillion in additional small business GDP growth and an estimated 1 million new small business jobs annually over the coming decade. Immediate expensing for R&D alone will accelerate over $20 billion in investment, and the permanent enhanced Death Tax relief will ensure that family-owned farms and ranches and other small businesses can be handed down to the next generation.

Organizations representing manufacturers, innovators, farmers and ranchers, and the small businesses that fuel the economic growth and opportunity in communities across the country are speaking out about how The One, Big, Beautiful Bill will make main street grow again.

National Small Business Association (NSBA)

“If passed, this legislation would enable the majority of Small Businesses to continue benefitting from lower individual tax rates and, crucially increase the amount of Qualified Business Income (QBI) deductible for these entrepreneurs under Section 199A up to 23 percent…Together, these measures would ensure small businesses do not bear a disproportionate share of the tax burden compared to their larger counterparts, providing long-term certainty for Main Street entrepreneurs.” – Todd McCracken, President and CEO, NSBA

National Roofing Contractors Association (NRCA)

“This vital bill strengthens and makes several key tax provisions permanent that support the roofing industry. These provisions are particularly critical for main street, family-owned and pass-through entities that represent 95% of all U.S. businesses and employ the majority of private-sector workers.” – NRCA

Associated Equipment Distributors (AED)

“This legislation will spur economic growth and job creation, incentivize capital investment, and ensure that AED members, who supply and maintain the equipment needed to build, feed and fuel America, remain competitive for years to come.” – Brian P. McGuire, President & CEO, AED

Associated Builders & Contractors (ABC)

“This legislation restores much-needed tax certainty, encourages reinvestment and reinforces a competitive business environment where companies of all sizes can grow and succeed. It is a blueprint for sustained growth and job creation, reflecting merit, competition and the freedom to build a business.” – Kristen Swearingen, Vice President of Government Affairs, ABC

CTIA

“The wireless industry strongly supports the House Ways and Means Committee’s budget reconciliation bill’s proposed tax provisions that will fuel innovation, investment and global competitiveness…These measures will help ensure the U.S. again leads in wireless and are essential for strengthening our country’s infrastructure, creating jobs and securing the nation’s economic future.” – Kelly Cole, Senior Vice President, Government Affairs, CTIA

Flex Association

“On behalf of the app-based industry and its 7.3 million independent workers, we thank Chairman Smith and the Ways & Means Committee for including app-based earners in the proposed ‘No Tax on Tips’ initiative. This legislation champions American workers by ensuring they retain more of their income while maintaining transparency and accountability.” – Kristin Sharp, CEO, Flex

Affordable Housing Tax Credit Coalition (AHTCC)

“The Housing Credit provisions in the reconciliation legislation released by the Ways and Means Committee today are a welcome step toward the creation of hundreds of thousands of additional affordable homes in the U.S. At a time when housing costs remain high, and safe, affordable homes remain out of reach in too many communities across the country, we applaud the Committee’s action toward resolving a crisis that continues to affect millions of Americans.” – Emily Cadik, CEO, AHTCC

National Cattlemen’s Beef Association (NCBA)

“With the expiration of the Tax Cuts and Jobs Act right around the corner, Congress needs to act now to protect family farmers and ranchers from a massive tax hike. We strongly urge all members of the House Ways and Means Committee to support Chairman Jason Smith’s tax reconciliation package that reduces the Death Tax and expands pro-small business tax deductions like section 199A, section 179, and bonus depreciation.” – Kent Bacus, Executive Director of Government Affairs, NCBA

Economic Investment Alliance

“Businesses of all sizes across the country rely on this common sense tax policy to immediately deduct investments they make in new tech and equipment. #FullExpensing makes it easier for companies to invest in their own future and spur economic growth – and we need that now more than ever.” – Economic Investment Alliance

Restore American Investment Now (RAIN) Coalition

“Restoring EBITDA will boost U.S. competitiveness, drive economic expansion, support job creation, and increase wages, especially in capital-intensive sectors like manufacturing, infrastructure, and mining. These industries are the backbone of the American economy and have been disproportionately impacted by the current EBIT-based limit.” – Michael O’Rielly, RAIN Coalition

Information Technology Industry Council (ITI)

“Restoring research and development expensing in the year it occurs has been one of the leading tax policy priorities for the tech sector…We also applaud lawmakers for bolstering U.S. competitiveness and helping provide U.S. companies with a more level playing field against their international competitors by maintaining the current GILTI, FDII, and BEAT rates.” – Lara Muldoon, Vice President of Government Affairs, ITI

Click here to learn more about how The One, Big, Beautiful Bill will support increased investment in manufacturing and main street growth and opportunity.