Our country was at a crossroads last November when the American people headed to the polls to weigh in on which direction we should take. The competing visions represented a clear contrast for voters to consider.
Thankfully they were decisive about which path to take –– the pursuit of pro-growth policies, security at our nation’s borders, energy dominance and independence, and revitalized leadership on the global stage that starts with a powerful, lethal military. Those goals were front and center for President Trump and Republicans up and down the ballot.
I’m pleased the Senate took a significant step to deliver on these aims and provide a once-in-a-generation investment that makes Arkansas and our nation more strong, safe and prosperous.
The One Big Beautiful Bill Act was approved by the Senate, with my support, specifically because it takes concrete steps to bring our key promises and policies to fruition.
There is perhaps no more important aspect of this legislation than extending the 2017 tax cuts to prevent the largest tax hike in history and offer additional tax relief to working families and small businesses. This bill stops an estimated $4 trillion tax increase on Americans, to include saving the average Arkansan $2,325 next tax season.
Not only are we keeping lower tax rates in place, but we also remove taxes on tips as well as overtime for millions of workers and offer a sizable deduction for low- and middle-income seniors. Additionally, we increase and enhance the child tax credit and standard deduction – claimed by over 90 percent of taxpayers – while also extending the 20 percent small business deduction and enabling full expensing on capital investment as well as research and development. Finally, we are keeping the death tax from doubling for farm families and small business owners to help with passing their livelihoods on to the next generation.