ACT: Senate Passage Marks a Major Win for American Workers and U.S. Competitiveness

The Alliance for Competitive Taxation (ACT), a coalition of leading American companies advocating for pro-growth, competitive tax policy, today issued the following statement from former House Ways and Means Committee Chairman Kevin Brady, spokesperson for ACT, in response to Senate passage of the One Big Beautiful Bill:

“Today’s Senate vote is a major victory for American workers, businesses, and the U.S. economy. This pro-growth legislation will help drive job creation, increase investment, and strengthen America’s position as a global leader in innovation and industry. Coupled with the new G7 agreement that restores U.S. tax sovereignty, the bill includes smart, thoughtful changes in the international arena that once again place the United States in a firm position of global economic leadership.

“By preserving the 21 percent corporate rate and making permanent critical provisions like R&D expensing, interest deductibility, and bonus depreciation, Washington is equipping American companies with the tools they need to grow, compete, and invest more in their people. These provisions have proven to support job growth, higher wages, and expanded economic opportunities for workers nationwide.

“We applaud President Donald Trump and House and Senate leaders for advancing a forward-looking economic agenda that empowers American companies to grow, innovate, and hire. We urge Congress to finish the job and send this bill to the President’s desk without delay.”