American People Deserve to Know How the One Big Beautiful Bill Will Benefit Them Directly

We cannot allow the American people to suffer the biggest tax hike in history next year.

Getting @POTUS’s “One Big Beautiful Bill” passed is one of our top priorities. And it’s an integral component of President Trump’s bold economic agenda to drive long-term growth.

The…

— Treasury Secretary Scott Bessent (@SecScottBessent) June 4, 2025

… American people deserve to know how this bill will benefit them directly

WORKING FAMILIES

✔️No federal income tax on tips or overtime pay.

✔️Bigger standard deduction for every household.

✔️Extra senior deduction so retirees keep more of what they’ve earned.

These dollars stay in your pocket, not Washington’s.

SMALL BUSINESS & ENTREPRENEURS

✔️Keeps, and increases, the small business pass through deduction.

✔️Immediate expensing for R&D so innovators can scale faster.

Main Street, not Wall Street, drives the next wave of jobs.

The bill delivers full 100% expensing for new factories, equipment, and machinery – plus restored bonus depreciation and immediate write-offs for research outlays.

Build it here, hire here, own it here.

Strong supply chains mean stronger national security and higher wages.

PROTECTING U.S. SOVEREIGNTY

If a foreign government imposes an extraterritorial tax on American companies, their residents and governments face increased U.S. taxes – and it turns off when they back down.

Foreign governments should never profit by taxing U.S. success within our borders.

With stronger wages, higher productivity, and goal-line 3% real GDP growth, this bill boosts revenue through expansion, not higher rates.

A strong economy restores pride and independence to the American people and allows millions of families to secure a more resilient and prosperous future.