[Congressional Record Volume 171, Number 74 (Monday, May 5, 2025)]
[Senate]
[Pages S2743-S2744]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      NATIONAL SMALL BUSINESS WEEK

  Mr. THUNE. Mr. President, this is Small Business Week, a time to 
celebrate the entrepreneurs and innovators of our communities, the 
farmers and ranchers, the sons and daughters carrying on the family 
business. These hard-working Americans are the backbone of our economy 
and a sign that the American dream is alive and working.

[[Page S2744]]

  Small business is a big deal, and the Trump administration and 
Republicans in Congress are working hard to deliver for American small 
business owners. One of our top priorities this year is making the 2017 
Tax Cuts and Jobs Act permanent.
  TCJA did a lot for small businesses. Lower tax rates, the 199A small 
business deduction, and bonus depreciation and other investment 
incentives lowered small businesses' tax burden and encouraged them to 
invest in themselves, hire more workers, and, in turn, grow our 
economy. And that is what happened.
  After the Tax Cuts and Jobs Act passed, we saw businesses buy new 
equipment. They hired new workers. Paychecks got bigger. It was good 
for small business and good for American workers, and it led to a very 
strong economy before the pandemic.
  But many of the law's provisions are expiring at the end of this 
year, and if we don't extend the Tax Cuts and Jobs Act, small 
businesses will face a $600 billion tax hike in 2026. Republicans do 
not intend to let that happen, but we don't just want to extend the 
TCJA's provisions. We want to give small businesses certainty by making 
these pro-growth tax policies permanent because permanence will 
encourage long-term investment, it will encourage growth, and it will 
maximize our economy's potential.
  According to one estimate, making the 199A deduction permanent would 
lead to 1.2 million more jobs per year, and that number will grow 
larger as the years go on. And that is just one pro-growth, pro-small 
business provision in the law.
  In addition to making the Tax Cuts and Jobs Act permanent, President 
Trump has already prioritized restoring American manufacturing. The Tax 
Code is a key part of that. Investment incentives like bonus 
depreciation helped manufacturers purchase the latest technology and 
grow their workforce with good-paying jobs for the American people.
  More manufacturing--more businesses and jobs here in America--grows 
our tax base, and that means more revenue--revenue that we get the 
right way, which is with a bigger and stronger economy, not bigger tax 
bills.
  We have an opportunity to help turn the page on the Biden economy and 
set up our country for long-term economic strength, and we can do that 
by delivering on the President's tax priorities and making his first 
term tax success permanent.
  Another one of our small business priorities is regulatory relief. 
When I meet with South Dakota business owners, I often tell them to let 
me know how we can help, even if sometimes that means getting out of 
the way. Often, that is what the government needs to do--get out of the 
way--and that is what we have been trying to do this year.
  Congress has blocked a number of burdensome Biden-era regulations 
through the Congressional Review Act, and we have more Congressional 
Review Act measures planned for this week. For example, we have passed 
resolutions blocking Biden administration rules on commercial 
refrigerators and freezers and walk-in coolers. These are rules that 
would have driven up costs and reduced choices for small businesses.
  One standard had a payback period--if you can get this--of 90 years; 
meaning, a small business would start saving money almost a century 
after purchasing an appliance. That is absurd, and it is just one 
example of the regulatory burdens Congress is working to lift off the 
backs of small business owners.
  The Trump administration is also working overtime to rescind a host 
of bad Biden-era rules that would place heavy burdens on small 
businesses.
  Farmers, ranchers, and landowners would be pleased to know that the 
EPA has initiated a more collaborative process with stakeholders as it 
considers an alternative to the Biden administration's WOTUS rule, or 
waters of the United States.
  And the administration and Congress have been working to repeal anti-
energy Biden regulations and unleash American energy dominance to 
ensure we have an affordable and reliable energy supply for years to 
come.
  Strong small businesses mean a strong America. I will always be 
grateful for the lessons I learned getting my start working in small 
businesses. During the summers, my parents, who were educators, ran a 
motel in my hometown of Murdo, and as is common in a lot of small 
businesses, the whole family helped out.
  Later on, my first job was as a busboy at the Star Family Restaurant. 
I later graduated to a cook. I learned a lot there, including what it 
took to keep the business running day to day and week to week.
  Small business owners work hard in pursuit of their dream. They 
create opportunity and jobs, and they bear the heavy responsibility 
that comes with signing the front of a paycheck. I know that small 
businesses have been facing a number of challenges lately, and my aim 
is always to do everything I can to help.
  I look forward to continuing to work with my Republican colleagues 
here in the Senate to support and strengthen small businesses because 
when small businesses succeed, we all succeed.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The senior assistant executive clerk proceeded to call the roll.
  Mr. DURBIN. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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