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U.S. House Passes Pro-Growth Tax Bill: Key Win for Lansing’s Business Community

The U.S. House of Representatives has passed the One, Big, Beautiful Bill, a sweeping pro-growth tax reform package that now moves to the Senate for final approval. The bill aims to deliver permanent tax relief and economic benefits for small businesses, working families, and local employers.

Key Takeaways for Lansing Regional Chamber Members:

✅ Permanent Tax Relief for Small Businesses

  • Expands and makes permanent the 20% small business deduction (Section 199A), helping more than 30 million small businesses, including many in the Lansing region.
  • Supports job creation, with projections of 1 million+ new Main Street jobs annually.

✅ Increased Investment & Growth Opportunities

  • Renews 100% immediate expensing for equipment, machinery, and research & development—critical for manufacturing and agricultural operations in Mid-Michigan.
  • Strengthens incentives for domestic production, enabling more investment in local facilities and workforce development.

✅ Enhanced Support for Working Families

  • Delivers an average of $13,300 more in take-home pay per family and $11,600 in increased wages for workers.
  • Expands the Child Tax Credit, boosts the standard deduction, and increases flexibility for 529 education savings plans.

✅ Cuts Red Tape for Local Employers

  • Raises the 1099-MISC reporting threshold to $2,000, easing administrative burdens for small business owners.
  • Repeals the controversial $600 gig worker reporting rule, which impacted many independent contractors and part-time earners.

✅ Protects Family-Owned Farms and Generational Businesses

  • Doubles the Death Tax Exemption, preserving family farms and small businesses from burdensome estate taxes.

✅ Boosts Local and Rural Investment

  • Renews and enhances Opportunity Zones, attracting capital to underserved and rural areas across Michigan.
  • Estimated to spur over $100 billion in investment, much of which will benefit local development and job creation.

Chairman Jason Smith (MO-08) stated:

“This bill is a historic step forward for American competitiveness, and it provides real relief and long-term certainty to the entrepreneurs and families who are the backbone of our communities.”

What’s Next?
The Senate will now take up the legislation. If passed, it will be sent to President Trump for signature.

Lansing Regional Chamber of Commerce members are encouraged to review the key provisions and consider how these reforms may benefit your business and employees.

The Chamber will also be engaging with Michigan’s U.S. Senators as the legislation moves forward, recognizing that additional industries across our region may be significantly impacted by the broader provisions in this comprehensive package.

For more detailed breakdowns, you can access fact sheets and statements here:
Click to Read More About the One, Big, Beautiful Bill