WASHINGTON, D.C. – A mere month after President Trump signed The One, Big, Beautiful Bill into law, American job creators are already laying plans to use the pro-growth tax policy to expand facilities, order new equipment, and hire more employees. A recent Bloomberg article noted how companies are reporting an increased interest in purchases from other businesses also looking to expand thanks to The One, Big, Beautiful Bill.

The One, Big, Beautiful Bill made pro-growth policies from the 2017 Trump tax cuts permanent, like R&D expensing, immediate 100 percent expensing, and interest deductibility. Manufacturers and other jobcreators will also for the first time ever be able to fully expense the cost of new factories and facilities.

“American manufacturers and businesses are responding to the permanence of the pro-growth tax policy in The One, Big, BeautifulBill and laying the foundation for a new golden age for the U.S. economy,” said Ways and Means Committee Chairman Jason Smith (MO-08). “Pro-growth tax cuts are pro-worker: new factories, facilities and equipment purchases and gains in productivity all create jobs and boost paychecks. Because of President Trump’s vision of putting the working men and women of America first, the average family willget a $600 tax cut versus what they pay today and a nearly $11,000 boost in take-home pay.”

Highlights:

• Manufacturers Getting New Orders: “Truckmaker Paccar Inc. and aerospace and defense manufacturer General DynamicsCorp. have been getting more business inquiries now that cash is freed up, executives said on their respective earnings calls…The company [Paccar] has guided for parts sales growth of 4% to 6% this quarter, which would be more than the past three quarters.”
  • Paccar CEO: “Their ability to deploy that cash or capital asset purchases like trucks is starting to be part of theconversation and as part of our optimism for the latter part of the year.”

• Tax Relief Spurring Investment in American Jobs and Innovation – Johnson & Johnson CEO: “It’s hard to know what is going to happen ultimately with tariffs, but what we do know for sure is that the tax policies that just passed are already creating American jobs and driving innovation.”
• Full R&D and Equipment Expensing Encourages Growth: “Companies can now fully expense research and development, new equipment and property in the US, instead of spreading deductions over several years, freeing up cash and encouraging companies to move forward with equipment purchases and facility upgrades sooner.”