Christian Employers Alliance Backs House GOP's 'Big Beautiful Bill' Tax Reforms
The Christian Employers Alliance (CEA), a national coalition of Christian business leaders, has commended the House GOP's proposed tax legislation, dubbed the 'Big Beautiful Bill'. The CEA, founded in 2016 by Joe Carter, represents Christian business leaders nationwide and acknowledged the bill's significant tax reforms.
The bill introduces several sweeping changes. It proposes to raise the child tax credit to $2,500 per child until 2028. Additionally, it permanently reduces individual income tax brackets and increases the standard deduction for single filers. For businesses, the bill extends the research and development (R&D) tax credit until 2029, allowing them to fully expense qualified domestic R&D costs. Small businesses also benefit, with the Section 199A pass-through deduction raised from 20% to 23%, and the expensing of equipment and machinery boosted to 100%.
While the CEA endorses the bill, it has acknowledged concerns from the Freedom Caucus regarding the bill's limited Medicaid reforms.
The House GOP's proposed tax legislation, praised by the Christian Employers Alliance, offers significant tax reforms that could benefit both individuals and businesses. Despite some concerns, the CEA endorses the 'Big Beautiful Bill' for its expanded credits, increased deductions, and lower tax brackets.
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