WATCH: Nunn Highlights Working Families Tax Cuts with Iowa Small Businesses

"Small businesses are the backbone of Iowa's economy, and today's roundtable made clear that the Working Families Tax Cuts are already delivering for them," said Rep. Nunn . "The result is a tax code that gives owners the certainty they need to hire, invest, and grow - strengthening Iowa's Main Streets and putting more dollars back in the pockets of working families."

During the roundtable, Rep. Nunn highlighted how several provisions of the Working Families Tax Cuts are benefiting Iowa's nearly 290,000 small businesses, including:

• Permanent 20% Small Business Deduction: Makes the 20% pass-through deduction permanent, preventing an automatic tax increase on the vast majority of Iowa businesses structured as sole proprietorships, LLCs, S-corporations, and partnerships.
• 100% Bonus Depreciation Restored : Allows businesses to immediately write off the full cost of qualifying investments such as machinery and equipment instead of depreciating them over multiple years, freeing up capital to reinvest and grow.
• Section 179 Expensing Raised to $2.5 Million : Raises the cap on equipment and capital investment businesses can immediately deduct from roughly $1.25 million to $2.5 million, supporting manufacturers and equipment-heavy operations.
• R&D Expensing Restored : Allows businesses to immediately deduct domestic research and development costs again, reversing prior rules that required companies to spread those expenses over several years.
• No Tax on Tips or Overtime : Creates new federal tax deductions for tip income and overtime pay, helping workers keep more of what they earn and supporting restaurants, hospitality, and service businesses in attracting and retaining employees.

For Iowa families, the Working Families Tax Cuts provide an average tax savings of $3,139 this year, according to the Tax Foundation. Key provisions include a permanently expanded $31,500 standard deduction for married couples, a $2,200 Child Tax Credit per child, and a new $6,000 deduction for seniors. The average tax refund is already running 11% higher in 2026 than in 2025.

"The U.S. Chamber thanks Congressman Nunn for an engaging discussion today with local business owners about how the pro-growth tax provisions in the One Big Beautiful Bill Act are helping Iowa businesses and workers plan, invest, and grow with confidence," said John Kirchner, Vice President of Government Affairs, U.S. Chamber of Commerce . "We appreciate his commitment to policies that strengthen the state's economic future."

"Congressman Nunn's support of the Working Families Tax Cuts has allowed Iowa small businesses and manufacturers to expand operations by increasing capital investment and hiring more employees," said Nicole Crain, President, Iowa Association of Business and Industry . "Manufacturing is a driving force in Iowa's economy, employing more than 16,000 hardworking Iowans in the Third Congressional District. ABI appreciates Congressman Nunn and the U.S. Chamber for bringing employers together to discuss policies that help Iowa manufacturers invest, hire, and grow."

B-roll from the roundtable is available here and photos are available here .

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