Justin Crossie | U.S. Small Business Administration<\/p>\n
The One Big Beautiful Bill is more than legislation, it\u2019s a promise to put American workers, American families, and American small businesses first. It delivers real tax relief, reins in Washington\u2019s overreach, rewards hard work and brings small businesses back to the center of America\u2019s success story.<\/p>\n
The One Big Beautiful Bill locks in the 2017 Trump tax cuts, protecting American families from the largest tax hike in history and increasing the standard deduction for every hardworking household.\u00a0 This provision alone is projected to\u00a0create<\/a>\u00a01 million new jobs on Main Street and\u00a0generate<\/a>\u00a0$750 billion in economic activity over the next decade. The bill also\u00a0doubles small business expensing,\u00a0raising the limit so that American businesses can immediately deduct up to $2.5 million in equipment and property costs, allowing them to expand operations, hire more workers, and outcompete foreign rivals. By permanently renewing and strengthening Opportunity Zones, the bill will unlock over $100 billion in new investment and more than 1 million jobs for rural and distressed communities.\u00a0<\/p>\n The One Big Beautiful Bill underscores the SBA\u2019s commitment to strengthening America by empowering small businesses and restoring our self-reliance. Earlier this year, the SBA launched the\u00a0Made in America Initiative<\/a>, the agency\u2019s program intended to cut $100 billion in burdensome regulations, promote a skilled workforce, and jumpstart onshoring efforts. This effort is about creating American jobs, rebuilding our supply chains, and ensuring that prosperity benefits Main Streets across America.<\/p>\n Moreover, the legislation supports the return of Made in America by allowing 100% expensing for new factories, factory improvements, equipment, and research and development. These provisions don\u2019t just encourage domestic production \u2013 they renew our industrial base and create good-paying jobs for American workers.\u00a0The SBA is committed to supporting American Manufacturers by streamlining resources, increasing capital access, expanding public and private investments, and reducing red tape. That is why SBA\u2019s Advocacy Office created the\u00a0RedTape Hotline<\/a>,\u00a0so that small businesses can work with SBA advocates directly at\u00a0redtape@sba.gov<\/a>\u00a0or by calling 1-800-827-5722.<\/p>\n