On May 22, the House of Representatives narrowly passed H.R. 1, the One Big Beautiful Bill Act, by a vote of 215–214. This critical legislation includes powerful provisions that support U.S. manufacturers, boost innovation, and strengthen our economy. But the fight isn’t over — the Senate must act next.

The bill, retroactive to January 1, 2025: 
• Raises 100% Bonus Depreciation through 2029 
• Allows for full expensing for R&D with no amortization through 2029
• Restores 163j Interest Deductibility (EBITDA standard) through 2029

Additional key tax provisions include:
• Permanent and expanded Section 199A deduction for passthrough
• Permanent Estate Tax exemption at $15m/individual
• Expanded Section 179 expensing limit to $2.5M
• Expand 529s, allow Pell Grants for short-term programs

These provisions are game-changers for American businesses — especially small and mid-sized manufacturers. They promote investment, innovation, and economic growth when we need it most.

Now is the time to speak up. Tell your Senators to support American manufacturing, jobs, and competitiveness by building on the work of the House and passing the critical tax provisions included in the House-passed H.R. 1 without delay.  Contact your Senators today and urge them to get this done.