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| U.S. Chamber Action |
| Stand Up for Free Enterprise |
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| What Small Businesses Need to Know about Taxes and Tariffs |
| Americans will gain from pro-growth tax policies, but tariffs create serious hurdles. |
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American businesses and workers will benefit from pro-growth tax policy, U.S. Chamber Executive Vice President Neil Bradley told an audience of more than 1,000 small businesses on a CO— Small Business Update on July 15.
A win for pro-growth tax policy: The One Big Beautiful Bill Act prevented a massive tax increase from occurring at the end of 2025 and made key tax provisions permanent, including:
- 100% bonus depreciation for businesses investing in buildings and equipment to strengthen local economies.
- Immediately expensing research and development to drive American innovation.
- Small businesses are better able to offer affordable childcare for their employees.
Tariff challenges: While the tax law offers certainty to small businesses, they continue struggling with higher costs, slower growth, or worse.
- “When I opened my first tariff bill for Baby Paper, it hit like a gut-punch. A 30% increase in my cost of goods. How is a small business supposed to survive that?” said Sari Wiaz, president of Baby Paper in Glenview, Illinois.
- "With [proposed 36% tariffs] for Thailand, we can’t survive, and at this point have stopped ordering any new products,” said Matt Katzman, owner and operator of Velocity Sleep in Suffield, Connecticut. “If nothing is done soon, we will have to shut down our business.”
Looking ahead: “Over the next six months, tariffs are likely to go up, not down,” said the U.S. Chamber's Bradley. “That has a real impact on small businesses… We know that many of those small businesses are struggling both with the tariff uncertainty and these higher tariff levels.”
Learn more:
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| UPCOMING EVENTS |
| Free Enterprise Exchange: Why Is Industrial Policy So Prone to Fail? |
| July 31, 12:00 PM – 12:45 PM ET |
| The U.S. Chamber’s Neil Bradley and AEI’s Michael Strain will discuss the risks of politicized industrial planning, the need for regulatory clarity, and challenge the assumptions behind tariffs and subsidies, advocating for a market-oriented path to competitiveness. |
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| Building a Multi-Million Dollar Business from the Ground Up |
| August 14, 12:00 – 12:30 PM ET |
| Gail Becker, Founder of CAULIPOWER, shares how she built one of the fastest-growing frozen food companies in the U.S. with no food industry experience. |
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