President Donald Trump’s administration says new tax cuts and business-friendly policies are encouraging small businesses across the United States to invest and expand. By reducing the tax burden, the measures are giving business owners greater opportunities to hire new employees, raise wages, purchase equipment, invest in technology, and expand their operations, according to an administration statement.
According to the Trump administration, the Working Families Tax Cuts Act has made key tax benefits for small businesses permanent, including a 20% deduction on eligible business income. The White House says approximately 12 million small-business owners are benefiting from an average tax break of about $7,000.
The statement also highlights the experiences of small-business owners across several states. Geoff Larson, co-founder of Alaskan Brewing Company in Juneau, Alaska, said the tax benefits have strengthened the company’s financial capacity to invest in production and innovation. Jenna Aronovitz, owner of 1920 Tavern in Roswell, Georgia, said the tax savings are creating new opportunities for small businesses.
Avere Marquis, owner of Asphalt Preservation Company in Detroit Lakes, Minnesota, said the tax cuts helped the company purchase new equipment. According to Marquis, the investment has supported employee retention and helped create a safer working environment for new hires.
Vicki Harry, owner of Thanks a Latte in Holly Springs and Angier, North Carolina, said she is using the tax benefits to build a new store. She added that the ability to deduct the cost of business equipment more quickly for tax purposes is also encouraging investment.
John Boyer, CEO of KVG in Gettysburg, Pennsylvania, said tax relief and accelerated deductions for business investments enabled his company to add 10 new jobs. Derrick Murdoch, CEO of IPS Packaging & Automation in Greenville, South Carolina, also reported plans to hire additional workers and invest in technology and equipment.
Tina Miller, owner of Walkabout Outfitter in Harrisonburg, Virginia, said the company is using part of its tax savings to increase employee wages. Similarly, Michael Irvin, co-founder of Coal River Coffee Company in West Virginia, said the tax benefits have made it possible to introduce employee retirement programs, raise wages, and invest in infrastructure improvements.
The White House said the tax reforms include immediate tax benefits for business equipment purchases and research and development expenses, along with a 20% Qualified Business Income deduction for eligible small businesses. The administration’s economic analysis projects that these measures will help stimulate business investment and increase employment.
Overall, the administration argues that the tax cuts are giving small businesses greater financial flexibility to grow, invest in their workforce, and strengthen their long-term competitiveness.
