Today, the Georgia Chamber of Commerce issued a report on how the passage of H.R. 1, the One Big Beautiful Bill Act, will impact Georgia’s business community. The Georgia Chamber and its Business Climate Policy Committee and Small Business Policy Council have advocated for federal passage of many of the pro-growth policies included in the One Big Beautiful Bill Act.

The final legislation includes federal support for capital investment, innovation, and domestic manufacturing, helping businesses—especially small businesses—across the state hire more Georgians, expand their operations, and make vital investments so Georgia can sustain our economic success.

Some of the wins for Georgia's businesses and communities include:

• Permanent Individual and Business Rate Cuts: Provisions from the 2017 Tax Cuts and Jobs Act are made permanent, providing predictability for pass-through entities and individual taxpayers alike.

• Immediate Expensing: Businesses may once again fully deduct qualified equipment and R&D investments in the year incurred, lowering the cost of innovation and modernization. For small businesses, this accelerates the return on critical investments, enabling faster growth and competitiveness while mitigating upfront costs.

• Bonus Depreciation: Restores 100% bonus depreciation, enhancing cash flow for firms making long-term capital commitments. This is especially vital for small businesses that rely on timely cash flows to reinvest in operations, expand services, or upgrade outdated equipment.

• Manufacturing Facility Deduction: Full and immediate depreciation deductibility now applies to the construction and expansion of production and refining facilities, a direct incentive for industrial growth.

• Section 899 Exclusion: The final bill omits the proposed tax on foreign operations of U.S. multinationals, avoiding disruption for globally integrated Georgia companies. 

Click here to read the full report on the One Big Beautiful Bill Act.