Today, the United States marks the anniversary of our courageous founders declaring independence. They fought fiercely against tyranny, unjust taxation, and an elite class that ignored the voice of the people. Almost 250 years later, America stands at yet another pivotal moment in its history.
The time has come for action. Under the weight of disastrous Democrat policies, Americans have suffered long enough. Open borders jeopardize our safety, rampant inflation drains our wallets, and a weaponized justice system seeks to silence dissent. Many have feared that our greatest days are behind us.
President Donald Trump’s One Big Beautiful Bill brings a powerful counter to that narrative: America’s decline is officially over. This July Fourth, Trump isn’t just signing legislation; he’s reaffirming a promise. The American people will seize control of their destiny and refuse to accept a future of decline.
This monumental bill delivers the largest tax cut in American history, championing economic freedom and security for all. With this decisive victory, we are closing the chapter on years of economic downturn and heralding a new era filled with promise.
The achievements of the Trump tax cuts of 2017 are undeniable. Post-implementation, the U.S. experienced unprecedented economic growth. For the lowest earners, federal tax rates hit a historic low; wages surged at the highest pace in two decades; household incomes rose by $5,000, and poverty reached its lowest levels in history. The One Big Beautiful Bill enhances this success by expanding the child tax credit and boosting the standard deduction, which 91% of Americans rely on when filing their taxes. This means that the average family can expect to take home an additional $10,900.
Republicans are fulfilling Trump’s commitment to the 77 million Americans who voted for real change. No taxes on tips, overtime, car loan interest, and tax relief for seniors will immediately benefit hardworking citizens. Picture how this will transform lives: A single mother working in a diner will see her income increase by $1,300. A lineman working long hours during a crisis will pay zero income tax on his overtime. Retirees won’t see taxes on their Social Security benefits anymore.
The One Big Beautiful Bill is set to unleash our nation’s economic potential. Not only are we making the successful elements of the 2017 tax cuts permanent, but we are introducing new growth incentives, including 100% immediate cost recovery for investments in new manufacturing facilities right here in the U.S. This strategic move promises to create up to 7.2 million jobs and an additional million small business jobs annually, revitalizing American manufacturing and bringing opportunity back to rural towns like my own in Salem, Missouri.
The American people have decisively rejected the failed policies of Bidenomics, characterized by government overreach, open borders, and irresponsible spending. Instead, through the One Big Beautiful Bill, Republicans are making an unprecedented investment in families, small businesses, manufacturers, and farmers. We’re committing the largest investment in border security ever while implementing the most significant cuts to mandatory spending in history. We are putting money back into Americans’ pockets through the most substantial tax cuts our nation has ever seen. This Independence Day, we celebrate not just our freedom but the dawn of a revitalized economy that will benefit all Americans.
This Fourth of July, as we light fireworks, we ignite a new chapter in the American economy—one that isn’t marred by Democrat failures but built for the working class, small business owners, and American farmers. Thanks to Donald Trump’s leadership and the resilience of the American people, we stand on the brink of a new Golden Age, together ready to illuminate our path forward.
Jason Smith represents Missouri’s 8th Congressional District and is the chairman of the House Committee on Ways and Means.
