On Wednesday, Vice President JD Vance gave a speech championing the now passed and signed One Big Beautiful Bill Act at Don’s Machine Shop, a manufacturing facility in West Pittston, Pennsylvania.
Vance, who cast the tie-breaking vote in the Senate required to pass the bill, highlighted how the legislation’s tax cuts grow America’s economy and workforce with across-the-board tax cuts for all income groups.
Below is a list of excerpts from Vance’s speech with added details on the specific provisions of the bill that prove the Vice President’s statements correct.
A list of tax cuts in the One Big Beautiful Bill can be found here.
On tax cuts for small businesses:
“If you’re a small business, if you’re a medium size business, if you want to invest in American workers, we are going to make it so you pay less in taxes.”
- The qualified Business Income (199a) deduction for small businesses (partnership, S corporation, sole proprietorship, etc.) is permanently extended to 20 percent.
On increasing wages for workers:
“I’m really excited about the fact that for the first time in a very long time, workers’ wages are rising faster than inflation. You’re able to buy more, you’re able to do more, and we’re just getting started.”
- Allows workers to keep additional savings of an estimated $4,000 to $7,200 in annual real wages in the first four years of implementation (Council of Economic Advisors).
On no tax on overtime:
“If you work overtime, the federal government is not going to take a dime of that overtime. You earn that money, you ought to keep it in your pocket.”
- This bill creates an income deduction for overtime premium payments of up to $12,500 for qualified overtime compensation. This deduction is allowed for itemizers and non-itemizers and phases out when modified gross income exceeds $150,000. A work-eligible SSN is required to claim.
On every Democrat voting against historic tax relief for families
“Democrats seem to like everything that increases taxes…That’s their solution to every problem.”
“While we worked so hard, without a single Democrat in Congress supporting this legislation, we worked so hard to get this legislation passed, to cut your taxes, to prevent big tax increases, to make it easier to save and invest right here in this great country that all of us love.”
- Every Democrat in the House and Senate voted against tax relief for Americans. While Republicans advocate for America’s present and future, Democrats want to make people pay more out of their own pockets.
Vice President JD Vance’s speech amplifies how the passage of the One Big Beautiful Bill Act secures tax relief for American businesses, workers, and households nationwide. The legislation supports hard working citizens across all income levels and strengthens domestic industries. Companies like Don’s Machines Shop will thrive under the passing of OBBBA.
While Democratic leaders sought to block tax cuts, President Trump and the Republican party remained dedicated in their commitment on delivering pro-growth policies across the nation.
Click this link for the original source of this article.
Author: Mike Palicz
This content is courtesy of, and owned and copyrighted by, https://www.atr.org and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.
