WASHINGTON, D.C. – Today, U.S. Rep. Mike Carey (R-Ohio-15), a member of the House Ways and Means and Budget Committees, voted to pass the One Big, Beautiful Bill Act, budget reconciliation legislation which will deliver historic tax relief to workers, families, seniors, small businesses, and farmers, out of the House of Representatives.
“As Americans face the largest tax increase in our nation’s history, House Republicans are stepping up to act. The One Big Beautiful Bill Act offers momentous tax relief that will help workers, families, seniors, farmers, and small businesses live the American Dream,” Rep. Carey said. “Additionally, this bill ensures our border is secure, our energy industry is revitalized, and our economy is unshackled. I urge my colleagues in the Senate to pass this bill and get it to President Trump’s desk so he can sign it and deliver on his America first agenda.”
THE ONE BIG BEAUTIFUL BILL ACT:
- Prevents the largest tax increase in American history that would have occurred when tax provisions of the 2017 Tax Cuts and Jobs Act (TCJA) were set to expire at the end of 2025.
- In Ohio’s 15th Congressional District, a household making the median income would see more than a $1,500 annual tax increase if the TCJA were allowed to lapse at the end of 2025, a 23% tax hike.
- Expands the Child Tax Credit (CTC) by $500 to $2,500 per child.
- Without action by Congress, the CTC would have reverted to $1,000 per child at the end of 2025.
- Eliminates taxes on tipped wages for American workers.
- Eliminates taxes on overtime pay for American workers.
- Offers an expanded $4,000 tax credit for low- and middle-income seniors.
- Allows families to deduct interest payments on car loans for cars made in America.
- Prevents the Death Tax from hitting over 2 million family-owned farms who would otherwise see their limitation cut in half.
- This ensures that family-owned farms and ranches can be passed down to the next generation.
- Makes permanent the doubled guaranteed Standard Deduction, stopping a scheduled $15,000 cut in this deduction for families at the expiration of the TCJA.
- Repeals the IRS 1099-K Rule, which would harm gig workers by forcing them to report transactions of $600 or more to the IRS.
- Renews the Research and Development (R&D) incentive for small businesses.
- Currently, businesses must allocate R&D expenses over 5 years instead of immediately. Following the TCJA, R&D investment grew by 18%.
BACKGROUND:
This bill is the result of years of Republicans traveling across the country and listening to everyday Americans, hearing their concerns about the hardships they currently face, and how they would compound if provisions of the TCJA expired.
The framework for this bill in the form of a budget resolution passed the House on April 10, 2025.
The tax provisions in this bill passed out of the House Ways and Means Committee on May 14, 2025.
The bill now heads to the U.S. Senate for consideration, where it needs a simple majority to pass the chamber before being signed into law by President Trump.
Rep. Carey published an op-ed in The Columbus Dispatch on May 14, 2025 explaining the critical need for tax provisions in this bill.
# # #