On August 11, 2025, the debate over President Donald Trump’s so-called ‘big, beautiful bill’ reached a fever pitch, with lawmakers and small business owners alike weighing in on its long-term impact. While some hail the legislation as a lifeline for America’s entrepreneurs, others warn it will deepen economic divides and balloon the national debt. The Congressional Budget Office (CBO) report on the bill’s implications has only added fuel to the fire, sharpening the lines between supporters and detractors.
At the heart of the controversy is the permanent extension of the Small Business Deduction—a tax policy first introduced in 2017 that allows small business owners to deduct 20% of their business income every year. For Chris Vance, who runs a truck accessories shop in Oklahoma City, this provision is nothing short of transformative. “They saved me and small businesses in Oklahoma and America from a massive tax hike, so that I can keep investing in my workers and community,” Vance said, expressing gratitude for the bill’s passage. The legislation, now officially known as the One Big Beautiful Bill Act, was signed into law by President Trump on the Fourth of July, cementing the tax cut’s permanence for the next decade and beyond.
Vance’s story is emblematic of the bill’s intended beneficiaries. He started his business in 2016, a time he describes as “the worst possible time to set up shop.” Facing economic headwinds and the ever-present weight of federal taxes, he struggled to keep his doors open. The original Small Business Deduction, passed in 2017, offered a lifeline. “Ever since, I’ve been able to deduct about 20% of my business income every year,” Vance explained. “Without this relief, I’d be at a huge disadvantage compared to big businesses. Their taxes are lower, and I need a level playing field to compete.”
According to Vance, the tax cut has had tangible effects on his business and his community. He was able to move his company to a better location, pay his team higher wages, and even offer annual bonuses. “But the most meaningful thing I’ve done with the extra money is give back to Oklahoma City,” he said. Vance has sponsored youth sports programs and donated to local first responder wellness initiatives—actions he credits directly to the savings provided by the deduction. “I couldn’t do any of this if my taxes rose at the end of this year. But now I don’t have to worry about that. Those 20% savings have helped me build the small business I always dreamed about.”
Vance’s optimism is shared by many in the small business community. Citing studies, he noted, “Small businesses will now create more than 1.2 million new jobs a year because they have the confidence and cash to grow and give back.” The National Federation of Independent Business, of which Vance is a member, has championed the legislation as a victory for entrepreneurship and local economies.
Yet, not everyone is convinced the bill’s benefits are so widely shared. On the same day as Vance’s public praise, Rep. Brenda Boyle appeared on Chris Jansing Reports to deliver a starkly different assessment. “Trump’s ‘big, beautiful bill’ will hurt the working class and benefit billionaires,” Boyle declared. Her criticism was pointed, focusing on the CBO’s findings that the bill would significantly increase the national debt while disproportionately helping the wealthiest Americans.
The CBO report, which has become a touchstone for critics, highlights concerns about the bill’s fiscal sustainability. By locking in lower tax rates for certain business owners, the legislation is expected to reduce federal revenues over the next decade—a move opponents argue will either force cuts to essential services or push the government to borrow even more. For Boyle and her allies, the bill is less a triumph of economic policy and more a giveaway to the already affluent.
“The bill is criticized for its economic impact on different social classes, particularly the working class versus billionaires,” NBC News reported, summarizing the core of the opposition’s argument. Boyle and others contend that while some small businesses may benefit, the lion’s share of the tax relief will flow to larger firms and wealthy individuals who structure their income to maximize deductions.
This divide has played out in public forums and on the airwaves. Supporters of the bill, like Vance, argue that the savings enable them to reinvest in their employees and communities. Detractors, however, warn that the policy exacerbates inequality and leaves the government with fewer resources to address pressing needs such as infrastructure, education, and healthcare.
What’s clear is that the One Big Beautiful Bill Act has become a proxy for broader debates about tax policy, economic fairness, and the role of government. For small business owners struggling to stay afloat, the 20% deduction offers immediate relief and the promise of growth. For policymakers concerned about the nation’s fiscal health, the bill raises red flags about long-term sustainability and equity.
Even within the business community, there is recognition of the bill’s complexity. While Vance is unequivocal in his praise, he acknowledges that “my tax cut wasn’t permanent” until now, and that without it, “I’d be at a huge disadvantage compared to big businesses.” The implication is that the tax code’s intricacies can create winners and losers, and not every entrepreneur will benefit equally.
Meanwhile, the political ramifications are hard to ignore. As the 2026 midterm elections approach, both parties are seizing on the bill as a symbol of their economic philosophies. Republicans tout it as evidence of their commitment to small business and growth, while Democrats frame it as a cautionary tale of trickle-down economics gone awry.
For now, the One Big Beautiful Bill Act stands as one of the most consequential pieces of economic legislation in recent memory. Its full effects—on jobs, wages, inequality, and the national debt—will play out over years to come. What’s certain is that the voices of small business owners like Chris Vance, and critics like Rep. Brenda Boyle, will continue to shape the national conversation.
As lawmakers and citizens alike grapple with the bill’s real-world consequences, the debate over who truly benefits—and at what cost—shows no sign of fading.
