July 03,2025

Crapo Applauds House Passage of President Trump’s One Big Beautiful Bill

Washington, D.C.--U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) issued the following statement on House passage of the One Big Beautiful Bill Act: 

“We worked closely with our House colleagues throughout this process to deliver on a shared goal of making our country stronger, safer and more prosperous.  With the passage of the One Big Beautiful Bill Act, we are extending pro-growth tax policy, ensuring Americans can keep more of their hard-earned money, providing additional tax relief to those who need it most, and taking long-overdue action toward getting our fiscal house in order. 

“This legislation achieves the most significant spending reductions in history.  According to nonpartisan scorekeepers, by targeting waste, fraud and abuse in our federal spending programs, it reduces federal spending by over $1.5 trillion and will reduce the deficit by $400 billion over ten years.  That is before taking into account the dynamic pro-growth elements of the bill, which the Council of Economic Advisers estimates will increase federal revenues by more than $4 trillion when combined with other elements of President Trump’s economic agenda.  That’s nearly $4.5 trillion in deficit reduction.

“Despite false narratives about ‘tax cuts for billionaires and corporations,’ the reality is this legislation not only prevents massive across-the-board tax hikes, but also provides new tax relief that overwhelmingly benefits low- and middle-class families and workers.  Through policies like a standard deduction boost, tax benefits for child care affordability, and delivering on the President’s agenda on no taxes on tips, no taxes on overtime and tax relief for seniors, low- and middle-income Americans are the biggest winners under this bill.

“Today is a good day for the American people, and I applaud my colleagues and thank them for their partnership in this historic effort that will restore economic prosperity and opportunity for all Americans.” 

As Chairman of the Senate Finance Committee, which has jurisdiction over tax policy, Crapo is one of the chief architects of the One Big Beautiful Bill Act.  For more information on the provisions within the Finance Committee’s jurisdiction, click HERE.