Washington, D.C. – The "Big, Beautiful Bill," currently progressing through Congress, is drawing attention and debate from all sides due to its tax-and-spend framework. The bill, which is a prominent piece of legislation, seeks to ensure the permanence of President Trump's previous tax law, much of which is set to expire at the end of the year. This aspect of the bill has gained support for its aim to provide tax stability, which is believed to drive investment and economic growth.
However, the spending portion is a source of contention, with some Republicans and notable figures like Elon Musk criticizing the potential increase in the deficit once the bill becomes law. The House has already passed the bill, but the Senate is still negotiating to secure enough votes for its advancement.
The Small Business and Entrepreneurship Council (SBE Council), an advocacy group for entrepreneurs and small firms, has expressed strong support for the bill. Karen Kerrigan, President and CEO of the SBE Council, praised the Senate Finance Committee's work on ensuring tax certainty through permanent provisions that benefit small businesses. Kerrigan emphasized that tax code stability is crucial for fostering investment, innovation, and growth among startups and small businesses, which in turn strengthens U.S. competitiveness globally.
"SBE Council applauds the work of the Senate Finance Committee in zeroing in on tax certainty through its proposed package to make permanent a host of small business provisions that promote investment, innovation, capital availability, and growth," Kerrigan stated. "Clearly, there is alignment between the Senate Finance Committee title and the House-passed bill, including the need to fix problems in the Medicaid program. We are confident that leaders in the House and Senate will bridge the differences in their bills to produce big, beautiful outcomes for all Americans, including entrepreneurs, small business owners, and their employees."
In recent months, the SBE Council has also advocated for legislation that enhances access to capital, endorsing 12 bills approved by the House Financial Services Committee. These bills include the Expanding Access to Capital for Rural Job Creators Act, the Access to Small Business Investor Capital Act, and the Helping Startups Continue to Grow Act, among others.
As the Senate continues to deliberate, the outcome of the "Big, Beautiful Bill" remains critical for various stakeholders, including small businesses and entrepreneurs nationwide, who are keen on the bill's potential to fuel economic vibrancy and opportunity across local economies in the United States.
