Sen. Husted praises passage of budget bill
"The big, beautiful bill is a necessity because it cuts $4 trillion in taxes that otherwise would go up on the American people and small businesses," U.S. Sen. Jon Husted, R-Ohio, said today.
Husted was among the 50 Republican senators who voted to advance President Donald Trump’s tax legislation today. Vice President JD Vance cast the tie-breaking vote.
"If Democrats had succeeded in blocking this budget bill, 76,009 Ohio family farms could have seen their death tax relief cut in half," Husted said. "If Democrats had succeeded in blocking this budget bill, 842,000 Ohio small businesses would have lost their small business tax deduction. This protection is projected to create 1.2 million new jobs annually for the next decade, and 2.4 million more annually after that."
The bill, which now goes back to the House:
• Enables job creators to immediately expense investments in new factories, which boosts manufacturing in states like Ohio.
• Enables job creators to immediately expense investments in capital investments in machinery and equipment, which boosts manufacturing in states like Ohio.
• Enables job creators to permanently expense research and development expenses by including provisions from the American Innovation and Jobs Act, which Husted has co-sponsored.
• SupportsOhio families and vulnerable children by making the adoption tax credit partially refundable up to $5,000.
• Included no tax on tips by providing a $25,000 deduction for qualified tips.
• Includes no tax on overtime by providing a $12,500 deduction for single filers and $25,000 deduction for joint filers.
• Expands the annual deduction for senior citizens to $6,000.
• Includes no tax on car loan interest by providing a $10,000 deduction for cars assembled in the U.S.
• Supports Ohio families by establishing tax-advantaged savings accounts for parents, allowing annual contributions of up to $10,000.
• Supports Ohioans with disabilities by increasing the tax credit that people with disabilities can claim when they contribute to tax-free ABLE accounts. Husted is a cosponsor of the ENABLE Act.
• Helps Ohioans become career-ready by expanding Pell Grant eligibility for those enrolled in short-term, accredited, workforce-aligned programs. Husted has cosponsored similar legislation to expand workforce Pell eligibility.
• Supports Cleveland’s NASA Glenn research center by fully funding the Gateway lunar space station for FY 2026-2028 and the Artemis missions through Artemis V.
• Supports educational attainment and freedom for Ohio families by providing a school choice tax credit. Husted has cosponsored similar legislation, the Education School Choice for Children Act.
This budget bill makes America’s national defense stronger by:
• Providing $400 million to accelerate production of the Air Force’s F-47 sixth-generation air superiority aircraft and $678 million to accelerate development of the Collaborative Combat Aircraft program.
• Modernizing America’s national defenses by making initial investments into the Golden Dome air and missile defense system, re-stocking crucial munitions, rebuilding U.S. supply chains for critical minerals and expanding America’s advanced manufacturing capacity.
• Investing in scaling production of innovative low-cost and next-gen weapons like drones, counter-drone technology, cheap munitions and artificial intelligence.
This bill makes American energy stronger and Ohio energy cheaper by:
• Extending the clean hydrogen production tax credit to Jan. 1, 2028, which helps ensure continued sustainability of Ohio’s Appalachian Clean Energy Hub, ARCH2.
• Eliminating the Inflation Reduction Act’s natural gas tax for 10 years.
• Reversing Democrats’ anti-energy policies and bolsters American energy production by expanding oil, gas and coal leasing.