Grassley Touts Economic Growth Provisions in One Big Beautiful Bill

Floor Remarks by Senator Chuck Grassley of Iowa Senate President Pro Tempore “Economic Growth Provisions in OBBB” Wednesday, July 16, 2025 VIDEO The One Big Beautiful Bill provides a much-needed boost to Main Street America and to the rural communities – all of this throughout America. It makes key business provisions from the 2017 tax law permanent to provide job creators the certainty that they need to plan and invest in their operations. A top priority of mine – the 20 percent small business deduction is made permanent to benefit Main Street business owners and family farmers alike. Just as importantly, the bill permanently restores full expensing for machinery and equipment to boost domestic production. All of this, combined with a permanent extension of the across-the-board lower tax rates, [proves] the One Big Beautiful Bill is a recipe for economic success. Click HERE to learn more about how the One Big Beautiful Bill powers America’s economic engine. -30-