The National Association of Wholesaler-Distributors (NAW) has issued the following statement on the passage of the Big Beautiful bill, which President Donald J. Trump signed into law on July 4, 2025.

“The passage of the Big Beautiful Bill is a major victory for America’s businesses and workers. We’re grateful to the President for delivering on his promise to support small businesses and grow the economy, and we’re proud to have worked alongside leaders in both the House and Senate to make this possible. This bill delivers real, lasting relief—lower taxes, pro-growth policies, and critical protections for family-owned companies,” said NAW president Eric Hoplin.

“Even before the 2024 election was decided, NAW was fully engaged – working to safeguard our industry, preserve good jobs, and grow the economy. NAW is proud to have been invited to the table and to have worked alongside the Administration to achieve this outcome. We will continue to lead the charge for pro-growth policies that move our country forward,” added Hoplin.

How the Bill Helps American Workers: 

• Permanent Individual Tax Rates, Standard Deduction, and Child Tax Credit: Locking in tax relief for American families and providing stability for household financial planning.

How This Bill Helps American Businesses and the Economy:

• Section 199A Made Permanent: Securing long-term tax relief for pass-through businesses, the backbone of the American economy.

• Estate Tax Exemption Increased: A $30 million death tax exemption ensures family businesses can plan for the future without punitive tax burdens.

• Permanent Expensing of R&D: Full and immediate expensing of research and development costs, driving innovation and growth.

• 100% Bonus Depreciation Made Permanent: Enabling businesses to invest confidently in the equipment and infrastructure needed to grow.

• Preserved LIFO: Prevented efforts to eliminate or retroactively tax the Last-In, First-Out accounting method, which would have devastated businesses across our industry.

• Blocked Tax Increases on C-Corporations: Maintained competitive corporate tax rates to keep U.S. businesses strong and globally positioned.

• Stopped Efforts to Raise the Top Individual Tax Rate: Protected small businesses and pass-through entities from burdensome tax hikes that would have stifled growth and job creation.