Various business and industry concerns issued positive support in regards to the United States Senate voting to pass the budget reconciliation bill, also known as the “One Big Beautiful Bill.”
With the Senate having passed the bill by the narrowest of margins, 51-50, paced by Vice President J.D. Vance’s tie breaking vote, the bill now heads to the House of Representatives.
The American Trucking Associations (ATA) said it commended the Senate for voting to pass the bill, saying it will support the trucking industry by providing long-term tax certainty and more flexible resources for workforce development, ensuring that U.S.-based supply chains can keep America’s economy moving.
“The American Trucking Associations is grateful to Senate Republicans for their hard work to craft a package that will guarantee tax certainty for our nation’s trucking companies,” said ATA SVP of Legislative Affairs Henry Hanscom. “Trucking is the backbone of our economy, employing over 8.5 million Americans in companies that range in size from one-truck operators and small family businesses to enterprise carriers. Enacting pro-business, pro-growth tax policies will ensure that all of those companies are able to better plan for the future, invest in their workforce and equipment, and move freight safely and efficiently. As the industry that moves 72% of America’s freight by tonnage, and that is the sole source of freight services for more than 80% of American communities, ATA looks forward to President Trump signing this measure into law as soon as possible.”
What’s more, a letter sent to Senate and House Congressional leadership by the ATA’s federation of state trucking associations explained that the trucking industry is relying on Congress to enact permanent pro-growth tax policies that will support entrepreneurs, encourage businesses to invest in their equipment and workforce, and ensure long-term American economic competitiveness.
And the letter also cited other aspects of the bill beneficial for the trucking industry, including: making permanent the expiring provisions of the 2017 Tax Cuts and Jobs Act such as the 20% deduction for passthrough entities; increased exemption for the estate tax, and current marginal rate structure as well as reinstating 100% bonus depreciation; workforce provisions such as increasing flexibility for 529 plans to be used for career and technical training and extending Workforce Pell Grants to shorter term educational programs to help the trucking industry recruit and train drivers and technicians to keep supply chains rolling; and ensuring that renewable fuels for surface transportation, like renewable diesel and biodiesel, are not put at a disadvantage for aviation fuels will make sure that those cleaner fuels are available and more affordable for fleets of all sizes.
The National Association of Manufacturers (NAM) also threw its support behind the Senate’s vote, with president and CEO Jay Timmons, using a football analogy, saying the Senate pushed the ball deep into the red zone.
“Now it’s the House’s turn to finish the drive and deliver a big win for manufacturers in America,” said Timmons. “The Senate advanced a tax package that will strengthen small businesses, family-owned operations and manufacturing workers across the country. It drives manufacturers closer to the goal line—growing businesses, creating jobs and powering stronger communities. After months of driving, months of endurance and effort, months of playing audacious offense and tenacious defense, months of partnership between manufacturers of every industry and our leaders in Congress and the administration, the House now can finish the job. We call on our partners in the House to send this bill to the president’s desk—the strongest tax bill for manufacturers we have seen in a generation. Because when Congress champions the 13 million people who make things in America, manufacturing wins—and when manufacturing wins, America wins.”
In a letter to Senate Majority Leader John Thune and House Majority Leader Mike Johnson, NAM, along with more than 300 U.S. manufacturing leaders called on Congress to get this bill passed.
The letter cited various ways in which the bill can bolster manufacturing, including: providing tax certainty for small manufacturers by permanently extending the 20% pass-through deduction and preserving the 2017 Tax Cuts and Jobs Act’s individual tax rates; supporting investment and innovation by permanently restoring R&D expensing, full expensing for capital equipment purchases, and a pro-growth interest deductibility standard; bolstering American competitiveness and support investment in the U.S.; and incentivizing growth through the creation of a new deduction allowing companies to immediately expense the cost of new factories.
The U.S. Chamber of Commerce also showed its support for the bill, saying it would deliver lasting, pro-growth tax reforms to American businesses and workers.
“With today’s vote, the Senate has taken decisive action to deliver the kind of permanent tax relief the American business community has been calling for,” said U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley. “The tax provisions included in this bill will not only drive economic growth and sharpen America’s competitive edge but also put more money in workers’ pockets, increasing prosperity in communities across the country. 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. We urge lawmakers to swiftly pass the OBBBA and deliver it to President Trump to be signed into law.”
