Small businesses are driving significant investment and supporting job creation after pro-growth tax provisions passed last year through the One Big Beautiful Bill Act (OBBBA).
On March 5, members of the U.S. Chamber’s Small Business Council met with members of the House Small Business Committee on Capitol Hill to share their stories on how provisions in the new tax law have allowed them to invest in people, equipment, training, and new products and services.
For more than a year the U.S. Chamber and state and local chambers have gathered small businesses and members of Congress in communities across the country to discuss the pro-growth tax provisions passed through the OBBBA. These tax roundtables give small business owners and entrepreneurs a chance to tell their lawmakers how pro-growth tax policies will help local businesses and workers thrive.
On the Hill, the small business owners highlighted their ability to invest in new equipment for manufacturing, hire new workers, and pay their employees more. Consistently, the small business owners referenced the importance of certainty and they thanked the Members of Congress for making several helpful provisions permanent. They said the predictability in OBBBA is giving them confidence to make meaningful investments and take on new business.
In their words:
“One of the things that really mattered to our business was capital expensing. I am in manufacturing and need to invest in new equipment. Making the decision to buy new equipment and deduct it gives us certainty. When [the tax bill] passed, I bought a specialty machine to do complicated welding, which allowed me to take on new businesses I otherwise would not have been able to do all while providing new training opportunities for my employees. My employees and customers are thankful for your work to pass the tax law.” - Traci Tapani, Co-President, Wyoming Machine, Inc. in Stacy, MN
“I am a beverage wholesaler in Montana, the fourth generation of a family-owned business. The new tax law has been a huge help for investing in people. My top three managers retired and it was tough to find replacements. The new tax law prompted me to promote an existing manager into one of the roles. Not only is she excelling in her new role, she tearily shared with me that her pay raise will make college an option for her daughter.” - Karen Olson-Beenken, President and CEO of Blue Rock Companies in Sidney, MT