Congresswoman Tenney Celebrates the Passage of the One Big Beautiful Bill from the Ways and Means Markup

Washington, DC – Congresswoman Claudia Tenney (NY-24) today released the following statement on the passage of “The One, Big, Beautiful Bill” from the House Ways and Means Committee Markup.

“Today, the House Ways and Means Committee voted to advance our portion of the One, Big, Beautiful Bill to deliver on President Trump’s America First agenda. This landmark legislation makes several aspects of the 2017 Trump Tax Cuts permanent, including reduced tax rates for individuals and families, the doubled standard deduction, and the doubled child tax credit. Not only did we extend this tax relief for families and prevent a 25% tax hike on taxpayers in NY-24, but we also made permanent the 199A Small Business Deduction that was set to expire at the end of 2025, protecting 40,720 small businesses in NY-24 from being hit with a 43.4% tax rate. While this legislation did not include all of my initiatives, including the New Markets Tax Credit, Technology for Energy Security, BASIC Act, Susan Muffley Act, the High-Quality Charter Schools Act and various other legislative priorities, I understand that individual priorities do not take precedence over ensuring that American families, workers, and businesses do not face the largest tax hike in the history of our country. House Republicans are moving ahead with President Trump’s One, Big, Beautiful Bill, working to solidify the promises we made to the American people by strengthening our economy and providing direct tax relief to families, farmers, and small businesses in rural America,” said Congresswoman Tenney.

Highlights of this portion of the One, Big, Beautiful Bill include language to:

• Make the 2017 Trump Tax Cuts permanent, preventing a 25% tax hike on taxpayers in NY-24.
• Renew and make permanent the 199A small business deduction critical for the success of Main Street.
• Save the average American family $1,700, the equivalent of 9 weeks of groceries.
• Establish Savings Accounts for newborns.
• Increase the university endowment tax.
• Repeal the 1099-K gig worker reporting threshold, which would require Venmo, PayPal, and gig transactions over $600 to be reported to the IRS.
• Enhance the Opportunity Zone program to create over $100 billion in new investments in 10 years.
• Deliver on President Trump’s no tax on tips priority.
• Create 6 million jobs for American workers.
• Extend and expand the doubled Death Tax Exemption for 2 million family-owned farms.
• Modernize and enhance the Low Income Housing Tax Credit, a critical tool to help address our nation’s ongoing housing shortage.
• Terminate the tax-exempt status of terrorist-supporting organizations.

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