The “Big, Beautiful Bill,” working its way through Congress, is a tax-and-spend legislation that has supporters and detractors on all sides. Regarding the tax portion, the legislation aims to ensure the previous Trump tax law remains in place, as much of it is scheduled to expire at the end of the year. Spending is probably the most controversial part, as some Republicans, along with Elon Musk, have hammered the cost and increase in the deficit that will take place once the legislation is signed into law. While the House has approved the bill, the Senate is still in horse-trading mode as it seeks to get sufficient votes to keep the bill moving forward.
The Small Business and Entrepreneurship Council (SBE Council), an advocacy group that lobbies on behalf of entrepreneurs and smaller firms, has issued a statement voicing their support for the bill..
Karen Kerrigan, President and CEO of SBE Council, has commented on the Senate Finance Committee provisions of the Big, Beautiful Bill. She stated:
“SBE Council applauds the work of the Senate Finance Committee in zeroing in on tax certainty through its proposed package to make permanent a host of small business provisions that promote investment, innovation, capital availability, and growth for our nation’s startups and small businesses. Tax code stability – via permanency – is a powerful driver for investment and economic growth and will strengthen U.S. competitiveness and our nation’s standing in being the best place in the world to start and grow a business.”
“Clearly, there is alignment between the Senate Finance Committee title and the House-passed bill, including the need to fix problems in the Medicaid program. We are confident that leaders in the House and Senate will bridge the differences in their bills to produce big, beautiful outcomes for all Americans, including entrepreneurs, small business owners and their employees, who fuel economic vibrancy and opportunity in local economies across the United States.”
Last month, the SBE Council commented on the legislation in Congress that aims to support access to capital. SBE Council endorsed 12 bills which were approved by the House Financial Services Committee. These include:
● The Expanding Access to Capital for Rural Job Creators Act (H.R. 1190) – Passed 51-0
● The Access to Small Business Investor Capital Act (H.R. 2225) – Passed by Voice Vote
● The ELEVATE Act (H.R. 3301) – Passed 50-1
● The Helping Startups Continue to Grow Act (H.R. 3323) – Passed 31-20
● The Greenlighting Growth Act (H.R. 3343) – Passed 49-2
● Fair Investment Opportunities for Professional Experts Act (H.R. 3394) – Passed 45-1
● The Improving Access to Small Business Information Act (H.R. 3351) – Passed 50-0
● The Helping Angels Lead Our Startups (HALOS) Act of 2025 (H.R. 3352) – Passed 50-1
● The Encouraging Public Offerings Act of 2025 (H.R. 3381) – Passed 48-2
● The Small Entity Update Act (H.R. 3382) – Passed 51-0
● Improving Disclosures for Investors Act of 2025 (H.R. 2441) – Passed 39-11
● The Middle Market IPO Underwriting Cost Act (H.R. 3395) – Passed 50-0
