AFSA Supports Reconciliation
Last week, AFSA, along with other associations, signed a letter supporting the reconciliation bill in the U.S. House. This legislation builds on the 2017 Tax Cuts and Jobs Act by extending and strengthening key provisions that fuel the Main Street business community.
The bill enhances and solidifies three cornerstone provisions for pass-through businesses: the lower individual tax rates, the Section 199A pass-through deduction, and the higher estate tax exemptions. These measures provide long-term certainty, helping small and family-owned businesses reinvest, grow, and plan across generations without facing punishing tax burdens. The bill also restores immediate expensing for R&D, 100% bonus depreciation, and a higher cap on interest deductions—making it easier for businesses to invest in innovation and expansion.
AFSA and the other signing associations applaud the House for crafting a pro-growth tax package that adheres to fiscal responsibility. This legislation proves it is possible to support job creators and uphold budget discipline—a clear win for Main Street businesses and the broader U.S. economy.
May 30th, 2025
