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| U.S. Chamber Action |
| Stand Up for Free Enterprise |
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| How Small Businesses Can Save with the New Tax Law |
| This step-by-step guide breaks down the key benefits. |
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The U.S. Chamber rolled out a new guide to help small businesses unlock savings under the recently enacted One Big Beautiful Bill Act.
Why it matters: The guide breaks down key provisions of the law, including permanent deductions, enhanced credits, and expanded eligibility criteria—giving small businesses the tools they need to thrive.
Be smart: Small business owners can start claiming these tax breaks now, even for expenses dating back to January 20, 2025.
Learn more:
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| Tariffs Mean Higher Taxes on Food, Clothes |
| Families will soon see higher costs passed on to them. |
In just two months, higher tariffs have added billions in new taxes on essentials like food, clothing, and school supplies, according to federal data. While businesses have absorbed much of the cost, consumers will feel the pinch in the months ahead.
By the numbers:
- $1.9 billion in tariff taxes on food: Average tariffs jumped from 2% to 7% in May and June compared to last year.
- $1.9 billion in tariff taxes on apparel: Tariffs on clothes and shoes surged from 14% to 25%.
- $73 million in tariff taxes on school supplies: Tariffs rose from 5% to 18%.
Why it matters: Tariffs are a tax on American businesses and families, with costs gradually passed on to consumers.
- Zoom in: Small businesses are bearing the brunt, with tariffs expected to impose a $200 billion burden this year, affecting over 200,000 importers.
What we’re doing: The U.S. Chamber is working with the administration to remove barriers to growth by reforming permitting processes, addressing labor shortages, and improving energy availability. We’re also advocating for a tariff exemption process to support small businesses. |
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| UPCOMING EVENTS |
| How Does Free Trade Improve Living Standards? |
| August 20, 1:00 – 2:00 PM ET |
| Join the U.S. Chamber’s Neil Bradley and Cato Institute’s Scott Lincicome at the Free Enterprise Exchange to explore how free trade boosts living standards, supports open markets, and drives global engagement, while tackling misconceptions about its effects on businesses and communities. |
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| FOLLOW US ON SOCIAL MEDIA |
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