ASA and the Main Street Employers Support the One Big Beautiful Bill

ASA, along with the Main Street Employers, support the One Big Beautiful Bill that builds on the success of the 2017 Tax Cuts and Jobs Act by extending critical provisions and providing much-needed certainty to the Main Street business community.  The bill enhances and makes permanent three cornerstone provisions for pass-through businesses: the lower individual tax rates, the Section 199A pass-through deduction, and the higher estate tax exemptions. These measures are essential to the long-term health of small and family-owned businesses, allowing them to reinvest, grow, and transition across generations without facing punitive tax burdens.

Additionally, the bill restores immediate expensing for research and experimentation costs, brings back 100-percent bonus depreciation, and restores the larger cap on interest deductions. Together, these provisions will lower the cost of investing in new plants and equipment, making it easier for our members to invest and grow.