President Trump’s “One, Big, Beautiful Bill” is a historic investment in the American people. After an onslaught of failed economic policies from the Biden administration, taxpayers had enough. As I travel across Iowa’s 4th Congressional District, I heard from farmers, families, business owners, and community leaders about how tight budgets were becoming. President Trump’s 2017 Tax Cuts and Jobs Act (TCJA) made incredible strides in freeing working-class Americans from a growing tax burden, however, Biden’s disastrous “Bidenomics” policies brought with them inflation that rapidly eroded savings and paychecks.

Now, President Trump once again delivered relief for America’s families, small businesses, manufacturers, and farmers with our “One, Big, Beautiful Bill.” As the only member of Congress serving on both House Ways and Means and House Agriculture Committee, I was in a unique position to work on this legislation from multiple angles. Working alongside President Trump, we passed this historic tax relief, spurred American investment, and prevented the largest tax hike in American history.

According to estimates by the Council of Economic Advisers, our GDP could grow by as much as 5.2% in the short run and 3.5% in the long run while investment in our country could see a 14.5% boost. Since President Trump took office, companies like Anheuser-Busch, General Motors, TSMC, and many more have announced plans to invest billions of dollars in the United States. This is what “promises made, promises kept” looks like.

With the “One, Big, Beautiful Bill” becoming law on Independence Day, Iowa families can expect tax relief that will allow them to keep more of their hard-earned money and invest in their own growth. Estimates suggest that families could see up to $13,300 more in take-home pay, with workers potentially gaining up to $11,600 in higher wages over four years. The increased child tax credit–raised to $2,200–and the increased standard deduction–raised to nearly $16,000 for individuals and almost $32,000 for married couples–will leave families with more money to spend on household necessities. Trump Accounts–savings accounts with a $1,000 federal contribution–will allow families to invest up to $5,000 annually, with funds accessible at age 18 for education, training, or home purchases, and fully accessible at age 30.

Additionally, federal taxes on tipped income and overtime wages will provide relief to working families. Estimates suggest this could provide up to $1,750 annually for overtime workers and nearly $2,000 for tipped workers. Recently, Treasury Secretary Scott Bessent reported increased growth in real wages for hourly workers of nearly 2%. Investing in working class Americans is something President Trump campaigned on, and he is now delivering results.

Representing the second largest agriculture-producing congressional district in the entire nation, I can say with confidence that this bill will also help our farmers and producers. Having lived in Iowa my entire life, I’ve watched family farms pass from generation to generation. That’s the way it’s done here in our great state. That’s why, at my request, the “One, Big, Beautiful Bill” delivers additional death tax relief, keeping family farms in the care of Iowa farmers, and out of the hands of China. Also included are provisions to increase commodity reference prices, strengthen crop insurance, fund high-tech agricultural research, and grow our export markets. All these policies strengthen Iowa’s agriculture sector and ensure that family farms are passed on to yet another generation of stewards.

I truly believe that the beating heart of Iowa resides on the Main Streets of the numerous rural towns that dot the Iowa landscape. In Congress, one of my top priorities has always been ensuring that Iowa’s small businesses can keep more of their hard-earned money to invest in growth and good-paying jobs. From the factories in Rock Valley to the main street businesses of Marshalltown, our communities flourish when we support policies that empower small business owners.

That’s why, in Congress, I used my position in the House Ways and Means Committee to advocate on behalf of small business owners across the nation. Working alongside President Trump, my colleagues and I secured wins such as permanent qualified business income deductions for small businesses, restoring immediate R&D expensing, and investment in paid family and medical leave access for employees of small businesses. These initiatives allow small businesses to invest in new machinery, software, and their workers.

Through and through, President Trump’s “One, Big, Beautiful Bill” is an investment in the families, farmers, workers, seniors, and businesses that keep our nation’s economy moving forward. I was proud to work alongside President Trump and his administration to create this “Big, Beautiful Bill” and look forward to delivering more historic wins for Iowa.

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Randy Feenstra, a Republican from Hull, represents Iowa’s Fourth District in the U.S. House.