Key Takeaways:
- Competitive, pro-growth tax policy is essential to grow the U.S. economy and raise wages for American workers.
- Now law, the One Big Beautiful Bill Act (OBBBA) advances pro-growth tax policies that will benefit businesses of all sizes, spur economic growth, and drive job creation.
- Use the Chamber’s resources to learn about the benefits the law is bringing to businesses nationwide.
Businesses and industries across the country are sharing how the One Big Beautiful Bill Act’s permanent, pro-growth tax policies will help businesses create more jobs, boost reinvestment, and help America grow.
“You can’t underestimate the impact that these tax provisions are going to have on the future growth of the family-owned businesses on which our industry is built and the workers in these communities who are going to continue to see growth in good-paying, family-supporting jobs,” said Kevin Keane, President and CEO of the American Beverage Association.
When Main Street businesses have a competitive tax code, local economies grow and prosper. Additionally, American workers nationwide benefit from higher paychecks and more job opportunities.
“Our members are producing recycled materials that are an integral part of the manufacturing supply chain," said Robin Wiener, President of the Recycled Materials Association. “...Tax reform is going to allow us to innovate more, to expand domestic manufacturing, and create more jobs within the United States.”
Cathy Burns, President & CEO of the International Fresh Produce Association, praised the extension of the tax provisions, calling them “a lifeline for American farmers," especially as it relates to fruits, vegetables, and flowers. “If you think about all the headwinds that American farmers are experiencing,” she said, “...the extension of these provisions provide much needed relief.”
Hear from more business leaders:
President Donald J. Trump signed H.R. 1, the One Big Beautiful Bill Act (OBBBA), into law on July 4, 2025. The legislation extends the historic reforms of the 2017 Tax Cuts and Jobs Act (TCJA), which were set to expire at the end of the year. The U.S. Chamber celebrated supported the enactment of OBBBA, a legislative victory for U.S. economic growth, American workers, and local communities.
The Chamber worked with federal policymakers to enact this competitive, pro-growth tax code that will unleash American innovation and investment and help workers, families, businesses, and communities nationwide.
Five Key Reforms for Small Businesses
The extension of the signature 2017 tax cuts delivers permanent, pro-growth tax reforms designed to drive American innovation, boost investment, and benefit businesses and workers. The law includes five reforms that are especially relevant to American small businesses and highlight their potential benefits:
- Extension and Enhancement of Deduction for Qualified Business Income
- Full Expensing of Domestic Research and Experimental Expenditures
- Increased Dollar Limitations for Expensing of Certain Depreciable Business Assets
- Expansion of Qualified Small Business Stock Gain Exclusion
- Enhancement of Employer-Provided Child Care Credit
Through these reforms, it is clear policymakers were listening to small business voices—and taking them to heart.
The Chamber applauds Congress for enacting these permanent, pro-growth tax policies that will deliver meaningful benefits to America’s small businesses.
Tax Resources for Small Businesses:
What Business Is Saying At Our Tax Roundtables
At tax roundtables across the country, lawmakers, local businesses and chambers are gathering to discuss the benefits associated with the extension of the 2017 tax cuts that were passed in the OBBBA. These conversations include discussions on how businesses will invest, grow, and hire in the months and years ahead. Here are a few of their stories:
- “The bonus depreciation was very significant to us, and the pass-through savings on the tax of corporate profits was a big deal to us. When you combine those things, it allowed us to move forward the very large investment in a new plant that helped with tremendous growth, and we added a number of employees to the organization.” — Michael Zara, President of the Phillips Tube Group in Middletown, OH
- "We initially came to Gettysburg, Pennsylvania, in 2017. The 20% rate on taxes attracted us to do as much as we can here in the [United States]. When we took that opportunity, we were able to then write down improvements that we made to the property we purchased here in Gettysburg, and that included machinery and updating our facility. That catalyst for us to come back here enabled us to add ten jobs, and continue to run operations as a company and be successful from here in Gettysburg and outside the continental U.S.” — John Boyer, CEO of KVG, a mission support and logistics company located in Gettysburg, PA
View Highlights from These Events:
Extending Pro-Growth Tax Provisions in New York with U.S. Rep. Mike Lawler
How The New Tax Law Affects Nebraska Businesses and Residents
What’s more, industries across the country say the One Big Beautiful Bill Act will create more jobs, boost reinvestment, and help American manufacturing.
- “The One Big Beautiful Bill is a game changer, I think, for the home building industry and, of course, the Americans who live and purchase homes and apartments in this country. … The majority of homes in this country are built by small businesses, and this bill is going to do a great job in keeping them with low taxation.” — James Tobin, President and CEO, National Association of Home Builders
- “The restaurant industry is so excited about the opportunities that come from making these tax cuts permanent and extending new tax breaks for the important people that work in the restaurant industry. Of course, restaurants are a very capital-intensive and labor-intensive business. So, the full deduction of equipment expense that will allow them to free up capital while making those important improvements in their restaurants each year has a huge difference on people's enjoyment and the livelihood of the restaurant industry.” — Michelle Korsmo, President and CEO, National Restaurant Association
Strong Majorities Favor Pro-Growth Tax Provisions
A new Chamber public opinion survey finds seven-in-ten Americans would support a candidate who backs making tax cuts permanent.
Voters Favor Pro-Growth Tax Provisions
The Bottom Line
The tax provisions passed through the One Big Beautiful Bill provide American workers and businesses with new opportunities to invest, hire, raise wages, and impact their local communities for years to come. The business community is excited to see the positive economic impact in every corner of the country.
