Benefits of the One Big, Beautiful Bill

Floor Speech

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Mr. ROSE. Mr. Speaker, the House Ways and Means Committee has run the numbers for the American people. They all point to this fact: The One Big Beautiful Bill Act is good for this Nation, good for everyday Americans, and certainly good for the men and women I represent in Tennessee.

Here are the numbers. The bill, which this body passed and which I was proud to vote for, some experts say could produce an annual GDP growth rate of more than 5 percent in the next 4 years, with longer term annual growth reaching 3.5 percent.

The bill is also set to preserve between 6 and 7 million manufacturing jobs nationally. That would impact a whole lot of families. In my district alone, this bill protects 12,000 manufacturing jobs, more than $1.1 billion in wages, and more than $2.2 billion in economic growth. I urge my colleagues in the Senate to pass this bill without delay.

Mr. Speaker, the One Big Beautiful Bill Act is about restoring fairness and awarding work, and it begins with Americans' taxes.

In Tennessee, the bill we passed here in the House would put an average of $11,700 more in the pockets of a family of four every year. Under this bill, everyday Americans will see lower income tax rates, a larger standard deduction, and an expanded child tax credit. That means more take-home pay, more money for groceries, gas, and healthcare. Filing will be simpler. Refunds will be bigger.

This bill doesn't just cut taxes. It makes them fairer. It puts kitchen-table concerns at the center of policy and shifts the balance back toward the middle class. With the One Big Beautiful Bill Act, we are saying yes to opportunity, yes to working families, and yes to an economy that grows from the bottom up.

Mr. Speaker, it would be hard for me to count the number of job creators I have met in Tennessee's Sixth Congressional District since I came to Congress in 2019, but I can tell you that nearly all of them emphasized to me the need for tax certainty and for tax and regulatory relief.

The One Big Beautiful Bill Act includes something called R&D reprieves. That sounds like jargon to most people, but if a piece of equipment is the only thing separating you from expanding your business or hiring more employees, you know the term well.

Research and development tax credits have been the lifeblood of growth for small businesses and for our Nation's economy for several years. Estimates tell us that the immediate expensing for R&D will accelerate more than $20 billion in investment. I have seen this firsthand in my own small business that I continue to operate. This bill is further proof of promises made, promises kept, and I was proud to support the One Big Beautiful Bill Act.

Mr. Speaker, the men and women who put a badge on every morning, every afternoon, every evening want to leave the world better than they found it. Yet we civilians don't fully appreciate just how much time they spend away from their families to protect ours. They stay late writing reports or working events. They are often required to testify in court on their days off to ensure the conviction of a suspect they have arrested. That time, overtime, is needed to truly serve their communities. They do it without complaint.

They do receive extra pay, of course, for their overtime, yet that often comes with the burden of extra income taxes. It puts many of our law enforcement officers in a tax bracket that costs them more money.

Fortunately, it is not about the money for most of our men and women in uniform. Fortunately, the One Big Beautiful Bill Act ensures that our brave law enforcement officers won't be taxed on their overtime pay.

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