How the One Big Beautiful Bill gives small businesses a needed boost

You don’t have to look far to see the impact of small businesses.

They’re the bakery with the smell of fresh bread in the morning, the family-run auto shop that gets you back on the road, the neighborhood doctor who knows your name.

They’re everywhere — and they are a cornerstone of the American Dream.

But many of these businesses have faced the same uphill battle for years: high costs, complicated rules, and a heavy tax burden. These pressures make it harder to hire, invest, or grow.

That’s why the One Big Beautiful Bill matters so much — not just to business owners, but everyone who faces high everyday costs and cares about strong, vibrant communities.

The challenge: Heavy costs inhibit investment and expansion

Small businesses have long borne the burden of high taxes and complex filing requirements. Many have had to spend valuable time and money meeting tax obligations, leaving less for hiring, equipment, or innovation.

Before the 2017 Tax Cuts and Jobs Act, the corporate tax rate stood at 35% — one of the highest in the world. Businesses had to spread deductions for equipment over years, and those with even modest receipts faced complicated accounting rules.

The result? Slower growth, less innovation, and fewer opportunities for community investment.

The One Big Beautiful Bill’s small business boost

The OBBB makes permanent the most impactful provisions of the TCJA, giving small businesses a stable foundation to plan for the future.

And this isn’t just for “big corporations.” Any business with fewer than 250 employees benefits — including bakeries, realtors, individual doctors, local franchises, and countless others nationwide.

Here’s what the One Big Beautiful Bill is changing for small businesses

• Lower taxes — The TCJA permanently lowered the corporate tax rate to 21%, helping businesses grow and create jobs. It also gave tax relief to pass-through businesses, but those benefits were set to expire this year. Thanks to OBBB, those tax cuts are now permanent — keeping more money in the hands of job creators.
• Higher standard deduction — Thanks to the OBBB, the standard deduction level has nearly tripled from its pre-inflation level in 2017. This reduces the need for itemized returns. After the TCJA, the percentage of taxpayers itemizing dropped from 30% to just 10%, saving owners time and accounting costs.
• Immediate equipment expensing — Businesses can now deduct the full cost of new equipment in the year of purchase. This boosts cash flow and makes upgrades easier, whether it’s a new oven for a bakery or diagnostic tools for a clinic. This relief is direct and immediate.
• Simplified accounting rules — Another TCJA provision allowed businesses with under $25 million in receipts to use simple cash accounting. It was set to phase out, but is now permanent. Thanks to the OBBB, small business owners can spend less time dealing with burdensome accounting and more time investing in the community.

The results: Confidence and growth

The impact is already clear.

According to a recent CNBC/SurveyMonkey Small Business Survey, 46% of small business owners now rate the economy as “excellent” or “good.” Just one quarter earlier, that number was 30% — a 16-point jump in optimism.

When owners feel confident, they act. They hire new staff, expand hours, and invest in new products or services. Those changes ripple through entire communities.

Picture a café adding outdoor seating and two more baristas to meet demand. Or a bike shop extending its hours and stocking more parts for weekend riders. Or a small manufacturer adding a new facility in your city, hiring hundreds of employees. These aren’t just business wins — they’re community wins.

Why it matters for you

Small businesses are more than just economic units. They’re friends and neighbors, job creators, and community anchors. They sponsor youth sports teams, support local nonprofits, and keep our downtowns alive.

By permanently lowering taxes, simplifying rules, and encouraging investment and entrepreneurship, the OBBB gives them the freedom to grow and the stability to plan. That’s good for business owners — and it’s good for everyone who depends on them.

Studies show that economies with low tax rates and few regulations are the most likely to flourish, as investors have fewer hoops to jump through and individuals feel more emboldened to pursue their dreams.

However, economic growth isn’t just about Wall Street. It’s about Main Street — the small businesses all around us.

The OBBB is helping businesses emerge stronger than ever from the disastrous Biden era, allowing small business owners to further embrace the American Dream.

Lawmakers who courageously pushed for the passing of the OBBB deserve our gratitude and thanks.

Click here to thank lawmakers for passing the OBBB and allowing small businesses to flourish in your community.  

If your representatives voted for higher taxes, click here to let them know you won’t forget.