SBE Council Applauds Senate Passage of the “One Big Beautiful Bill Act,” Urges House to Act Promptly

By SBE Council at 1 July, 2025, 2:38 pm

NEWS
For Immediate Release

Washington, D.C. – The Small Business & Entrepreneurship Council (SBE Council) applauded Senate Republicans today, for taking bold action in passing the “One Big Beautiful Bill Act.” The advocacy group is now urging the U.S. House to move the bill to President Trump’s desk quickly. 

“We commend Republican Senate leaders for their tireless work in getting the ‘One Big Beautiful Bill Act’ to this critical stage for America’s small business owners and entrepreneurs,” said Karen Kerrigan, President & CEO of SBE Council.

“Their commitment to advancing this powerful package shows incredible dedication to the success of Main Street businesses across the country and to the future of U.S. entrepreneurship. Now, House members must focus on the widespread gains in the legislation for the U.S. economy, workers, families, and small business owners. We urge the House to promptly pass the bill so it can be signed by President Trump,” urged Kerrigan.

The “One Big Beautiful Bill Act” delivers the tax certainty and incentives that entrepreneurs and small businesses need to compete and thrive in today’s competitive economy. By locking in and strengthening key provisions from the 2017 Tax Cuts and Jobs Act — including, for example, the 20% small business deduction, lower individual tax rates, expanded Section 179 expensing, and a higher estate tax exemption — the package gives business owners the capital and stability they need to plan and grow.

Additionally, provisions such as immediate research and development (R&D) expensing, expanded Opportunity Zones, and 100% bonus depreciation, encourage investment in startups, innovation, and local economic development. For entrepreneurs and small businesses, more capital will stay in their businesses to deploy for new equipment, technology, employment opportunities, and support for employees. 

“With 50% of small businesses benefitting from the 20% small business deduction and most from lower individual tax rates, it is critical that Congress act to prevent a massive $4 trillion tax increase on the economy, and on taxpayers across the board. Time is of the essence, as small business owners have started to pull back on investments and growth opportunities. The productive spending that millions of small businesses generate in local communities has already taken a hit,” observed Kerrigan.

She pointed to new data from a forthcoming Small Business Check Up Survey that will be released this week, which finds that 57% of small business owners said that uncertainty about the extension of the 2017 Tax Cuts and Jobs Act “has already impacted my business, and business planning with regard to investments, expansion, growth, and hiring opportunities.”

“That’s not good, but fully expected given small business owners do not know how much capital they will have at their disposal for strategic investments and growth. Not surprisingly, they are hedging. Congress must act now – not only to prevent an economy-killing tax hike, but to allow entrepreneurs to plan and take advantage of growth and market opportunities.”

Kerrigan also revealed that President Trump’s new tax proposals, which have been included in the House and Senate passed bills, are overwhelming supported by small business owners in the new survey.

“Small business owners are highly supportive of new tax relief measures that will help American workers and seniors. Sadly, the most vulnerable and those living paycheck to paycheck have struggled under the high inflation and economic uncertainty of the past several years or more. They need policies that will help them achieve financial security and dignity,” said Kerrigan.

When asked about the following Trump measures in the new survey, small business owners express overwhelmingly support:

80% of small business owners support “No Tax on Tips”

79% of small business owners support “No Tax on Overtime”

82% of small business owners support the “Bonus Tax Deduction for Seniors”

Kerrigan pointed out the balanced political affiliation of small business owners surveyed: 35% Independent, 33% Republican, 28% Democrat (3% “Other”).

“Sadly, giving Americans more of their resources and capital back has become a partisan issue in Washington, D.C.  Not so much outside the beltway. There has been extraordinary grandstanding and misinformation perpetuated about the ‘One Big Beautiful Bill’ to prevent common-sense reforms and critical tax relief from moving forward. We urge House members to put aside their edge differences and come together in support of getting the bill to President Trump’s desk quickly,” concluded Kerrigan.

For SBE Council commentary on various non-tax provisions of the Senate’s version of the “One Big Beautiful Bill Act,” please refer to statements of support for specific titles listed here:

Statement of support for the Graham Substitute Amendment to H.R. 1, the “One Big Beautiful Bill Act”

Statement of support for the Senate Health, Education, Labor and Pensions (HELP) Committee’s title of the Senate Republican’s “One Big Beautiful Bill”

Statement of support for the Senate Energy and Natural Resources Committee’s title of the Senate Republican’s “One Big Beautiful Bill”

Statement of support for the Senate Banking, Housing and Urban Affairs Committee’s title of the Senate Republican’s “One Big Beautiful Bill”

Statement of support for the Senate Committee on Commerce, Science, and Transportation’s provisions of the Senate Republican’s “One Big Beautiful Bill”

Contact:  Karen Kerrigan, kkerrigan@sbecouncil.org

SBE Council is a nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For more than 30 years, SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth. Visit www.sbecouncil.org for additional information. X: @SBECouncil

###