Congressional Leaders Pitch Permanent Tax Reform

Top congressional tax writers shared the stage with policy experts and business community leaders before a packed room at the U.S. Chamber’s 2025 Tax Policy Summit on Wednesday. They made the case for permanently extending 2017 Tax Cuts and Jobs Act (TCJA) reforms.
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Why it matters: Key provisions in the TCJA are set to expire at the end of the year, leading to a historic tax increase.
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• The U.S. Chamber is leading the effort to make the reforms from the 2017 law permanent because smart tax policy is essential to grow the economy, raise wages, and improve the standard of living across America.
   

What happened: During a fireside chat, Sen. Mike Crapo, (R-ID), Chairman of the Senate Finance Committee, noted his support for a current-policy baseline for tax reform legislation.
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• “The reason current policy is so important is, first and foremost, permanence in the tax code is critical,” he said. “[If] the private sector does not have permanence in the tax code, that impacts our economic growth.”
   
• Sen. Crapo also said his committee will restore three key business tax policies for which the Chamber has long advocated: the deduction for research (R&D) expenses; 100% bonus depreciation; and the EBITDA standard for interest deductibility.
   

Rep. Randy Feenstra (R-IA), a member of the House Ways and Means Committee, said in an interview that extending TCJA provisions and making them permanent is crucial for growing local economies and improving the well-being of all Americans: “The bottom line is we want our economy to grow around 3% of GDP. That’s significant, and to do that, it’s going to require a very good tax code.”
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What we’re doing: The U.S. Chamber is engaging with policymakers to tell the story of how permanent tax reform improves the lives of American workers and families.
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• The Small Business Council met with congressional offices to share how pro-growth tax policy has helped their employees and communities.
   
• We launched a new tax calculator to help pass-through business owners better understand potential tax increases if Congress allows the Section 199A deduction to expire at the end of this year.
   

Tell us your story: How has tax reform helped your business and community?