President Trump’s One Big Beautiful Bill: A Win for Workers, Farmers, and America’s Future
The following comes from the Trump Administration.
President Donald J. Trump’s One Big Beautiful Bill — now the law of the land — is a sweeping legislative triumph that combines the largest tax cuts in history with landmark investments in America’s future and defense. From No Tax on Social Security for millions of seniors to permanent relief for small businesses and historic funding for national security, this bill unleashes economic prosperity and empowers every American while strengthening our nation’s defenses and boldly looking to the future.
MustReadAlaska.com: Big Beautiful Icebreakers are Alaska wins, as Russia and China work together to gain foothold in Arctic
“The One Big Beautiful Bill Act, signed by President Donald Trump on July 4, includes a historic investment in US Arctic security, totaling nearly $9 billion for icebreakers that may put America back in charge of the frozen frontier.
The legislation delivers $4.3 billion for heavy Polar security cutters, $3.5 billion for medium Arctic security cutters, and an additional $816 million for lighter ice-capable vessels. It’s the largest Arctic maritime investment in US history, and it comes at a moment of escalating geopolitical stakes in the Far North.”
WFTV (Orlando, Florida): Big Beautiful Bill Act prompts largest investment in U.S. Coast Guard Service’s history
“The U.S. Coast Guard has received nearly $25 billion in funding from the One Big Beautiful Bill Act, marking the largest investment in the Service’s history. This historic funding will strengthen the Coast Guard’s ability to combat drugs and improve maritime security by enabling the purchase of new vessels and aircraft, and upgrading infrastructure.”
ABC15 (Phoenix, Arizona): Advocates for Arizona radiation exposure victims score big win in Congress
“After decades of fighting, advocates for those who faced radiation exposure in Arizona and elsewhere are getting a big win through President Donald Trump’s One Big, Beautiful Bill.
That push in Congress to carry on the Radiation Exposure Compensation Act, or RECA, is finding victory after more than 30 years.”
National Federation of Independent Business: America’s Small Businesses Applaud President Trump, Congress for Stopping Massive Tax Hike on Main Street
“Since 2017, the Small Business Tax Deduction has allowed small businesses to deduct up to 20% of their business income. Without immediate action by Congress, this essential tax deduction was set to expire at the end of the year, raising taxes on millions of small businesses. The One Big Beautiful Bill Act provides permanent tax relief, freeing America’s small businesses to invest in their businesses and employees. Along with making the Small Business Deduction permanent, the One Big Beautiful Bill Act includes additional wins for small businesses:
- Increases Section 179, Small Business Expensing Cap from $1.25 million to $2.5 million. This will allow small businesses to fully expense business equipment purchases in the first year.
- Makes the 2017 marginal rate cuts permanent. Without this provision, five out of seven marginal (individual) income tax rates will rise at the end of the year. Nine out of 10 small businesses are organized as pass-through businesses and pay regular income tax rates rather than the C-corporation rate.
Increases and makes permanent the Small Business Estate Tax Exemption. The new exemption thresholds will be set at $15 million for individual filers and $30 million for joint filers.”