NEWS – House Advances One Big, Beautiful Tax and Spending Reconciliation Bill, NSBA Priority Issues
- NSBA
- 5 days ago
- 2 min read
NSBA supports the House and Members of Congress who continue to prioritize Small-Business Priority Issues, including tax expansions and permanencies advancing in the reconciliation package.
MAY 22 | After more than 19 hours of debate, this morning, the House voted to advance the One Big, Beautiful Bill Act 215-214.
Passing the tax-and-spending provisions as part of a legislative package now eligible for simple majority passage in the Senate by the reconciliation process, NSBA applauds Congress for acting on a number of NSBA Priority Issues to better support America’s most important economic community, including expansions and permanencies for QBI and 199A tax deductions.
Additionally extending President Trump’s first-term tax cuts due to expire Dec. 31, along with further tax relief for state and local taxes to $40,000 and temporarily exempting tips and overtime pay from taxes, as well as increasing the debt ceiling by $4 trillion, the bill now comes before consideration of the Senate.
Alongside consideration of the advancing reconciliation package, House appropriators released their schedules with plans to finish the standard 12 fiscal 2026 spending bills in the next 10 weeks.
While Senate leaders said they are keen to make additional changes, including potentially splitting the reconciliation package into separate pieces, there is growing bipartisan support for extension, expansion, and permanencies of the critical tax provisions included in the House-passed bill.
Follow NSBA as we continue supporting Members of Congress from any party in both chambers who understand the importance of enacting our Priority Issues, particularly tax deductions that are critical to a flourishing economy driven by small business.
