SBA Head Visits Indy Machine Shop to Tout “Big, Beautiful Bill”
INDIANAPOLIS — A top official in the Trump administration was in Indianapolis this week to promote the president’s “big, beautiful bill.”
Administrator of the U.S. Small Business Administration Kelly Loeffler toured Olson Custom Designs on Tuesday, a place she said is providing great opportunities to Hoosiers.
“It’s a great example at Olson of a skilled workforce,” Loeffler said to WISH-TV. “They’re bringing students out of technical schools and giving them great paying jobs with great benefits and that’s what this is about.”
Loeffler believes the “big, beautiful bill” is designed in a way that that will boost jobs in Indiana and strengthen the U.S. economy.
“Working families and small businesses will face a $4 trillion tax increase if this bill doesn’t pass. Hardworking families will see $13,000 more in take-home pay if this bill passes. They will avoid a 15% tax increase if the bill fails,” said Loeffler.
A few key aspects of the bill include making permanent the income tax cuts from the 2017 Tax Cuts and Job Act that President Trump signed into law during his first term and making significant cuts to Medicaid.
The sweeping bill would also restore tax cuts for businesses and create tax exemptions on tips and overtime pay for workers.
According to the Congressional Budget Office, the bill, as approved in the House, could increase the federal deficit by more than $2.4 trillion over the next decade. The Senate has been proposing changes to the bill, which Trump is hoping to sign by July 4.
Loeffler believes if the bill is signed into law soon, businesses will start seeing the benefits this year.
“Every day that we wait for this bill to pass is one less day that small businesses, manufacturers, Main Streets and hardworking Americans have to wait to receive the benefits of this bill,” she said.
