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'One of the Most Consequential Bills Ever': Here's How the 'Big, Beautiful Bill' Will Affect Small Businesses

Erin Davis

created: July 3, 2025, 6:48 p.m. | updated: July 6, 2025, 3:55 p.m.

President Donald Trump's "Big, Beautiful Bill" passed the House on Thursday, 218-214. After passing the House, House Speaker Mike Johnson (R-Louisiana) said, "What more appropriate time to pass the big, beautiful bill for America than on Independence Day?" The 887-page bill includes tax and spending cuts that will affect small businesses. Related: Big Government Changes Are Coming for Small Businesses — What You Need to KnowOn Fox News' "Mornings With Maria" on Wednesday, CPA and small business owner Gene Marks said the big winners of the bill "are small businesses." Also, in the new Senate version of the bill, workers earning $150,000 or more a year ($300,000 for joint filers) are exempt.

4 months ago: Entrepreneur