The One Big Beautiful Bill Drives Business Growth

The One Big Beautiful Bill Drives Business Growth

Washington, D.C.--The One Big Beautiful Bill Act drives economic growth by making key business provisions permanent, giving businesses the certainty they need to invest, hire and grow.

"Permanent tax policy provides businesses with the certainty they need to invest, save and plan for the future, which will power economic growth and ignite the U.S. economy," said Finance Committee Chairman Mike Crapo (R-Idaho).

Key wins:

• Full expensing for domestic R&D to encourage domestic innovation.
• Full expensing for new capital investments, like machinery and equipment, to boost domestic production.
• Restores interest deductibility to a globally competitive standard to help finance critical domestic investments.

What they are saying:

"The Chamber thanks Leader Thune, Chairman Crapo, and all who are working to make the pro-growth reforms of the 2017 Tax Cuts and Jobs Act permanent, including the deduction for domestic R&D expenditures, 100% bonus depreciation for certain business investments, and an expanded business interest limitation. The Chamber applauds the Senate for voting to make these provisions permanent features of the tax code." - U.S. Chamber of Commerce

"[This bill sends] a swift, decisive signal that America will remain a premier destination for businesses to invest, hire and grow." - Business Roundtable

"I applaud Chairman Mike Crapo, Leader John Thune and their Senate colleagues for advancing international tax policies that keep the U.S. the top destination for global investment. These provisions will help sustain American jobs, drive innovation, and reinforce a stable tax environment that attracts cross-border capital and world-class know-how." - Global Business Alliance President and CEO Jonathan Samford