Prime Highlights :

• Eastern Iowa entrepreneurs praise “One Big Beautiful Bill” for delivering tax relief, overtime relief, and a permanent 20% small business deduction.
• SBA Administrator Kelly Loeffler, Sen. Joni Ernst, and Rep. Ashley Hinson co-host a roundtable to highlight overwhelming local support for federal tax reforms.

Key Facts :

• Leaders embraced tax savings on tips, overtime compensation, and equipment purchases, citing greater clarity and reinvestment opportunities.
• A poll of state business found over 60% of members see the legislation as positive.

Key Background :

The Eastern Iowa business community met in Cedar Rapids on August 11, 2025, to attend a roundtable sponsored by the Cedar Rapids Metro Economic Alliance. The roundtable hosted U.S. Small Business Administrator Kelly Loeffler, Sen. Joni Ernst, and Rep. Ashley Hinson were joined by industry leaders representing sectors such as manufacturing, banking, construction, printing, and personal services. The visit was Loeffler’s first to the region, and on the agenda for discussion was the economic effect of the just-passed “One Big Beautiful Bill.”

Signed into law July 4, 2025, the bill delivered sweeping benefits to small businesses through business tax reductions, elimination of taxes on tips and overtime pay, advance deductions for equipment investments, and permanent establishment of a 20% small business deduction of income. Panelists agreed these provisions provide stability, reduced cost of operation, and enable reinvestment in employees and business growth.

Local entrepreneurs offered specific examples of the impact of the law. Jerry Akers, owner of multiple Great Clips locations, mentioned that reduced taxation has allowed him to retain more profits and invest more. Bryce Ricklefs of Boomerang noted that overtime tax abolition helps bring on the temporary workers, an important necessity in industries like construction. National Federation of Independent Business’ Matt Everson embraced the permanent nature of the 20% deduction as a long-term growth stimulus.

Although the debate was about regulatory certainty and tax relief, there was hardly any talk about larger trade policy issues such as tariffs. Federal trade critics warned that tariffs would increase costs for small businesses, but in Cedar Rapids, the refrain remained solidly that the law has created a more optimistic vision for local entrepreneurs. The roundtable ended with a common opinion that such federal efforts are necessary in supporting small business resilience and competitiveness.

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