President Trump’s One Big Beautiful Bill is sparking growth in American businesses. With major tax reforms—like full expensing for new factories, capital investments, and research and development—companies are noticing increased cash flow and are ready to invest more. This includes the largest tax cut in U.S. history, creating a friendly environment for growth.
In recent earnings reports, many companies are highlighting this legislation as a critical factor in their success:
- AT&T expects up to $8 billion in cash savings within two years. This boost will help the company invest in its fiber network and pension plans. CEO John Stankey noted, “With the benefits from this legislation, we can expand rapidly and create jobs.” Source
- Johnson & Johnson feels a newfound sense of certainty for its U.S. manufacturing investments, backed by a $55 billion commitment. CFO Joseph Wolk stated, “The bill provides assurance for our plans, allowing us to invest significantly here.” Source
- Northrop Grumman anticipates a cash tax benefit of $200 to $250 million this year. CFO Ken Crews mentioned that tax reform has positively influenced cash flow, enabling further investment and job creation. Source
- Booz Allen Hamilton has revised its cash flow outlook upward by $200 million due to favorable tax changes. CFO Matt Calderone said, “This reform is a game changer for our financial health.” Source
Other companies also report similar benefits. United Rentals raised its cash flow outlook by $400 million, helping boost its share repurchases significantly. CFO Ted Grace noted that tax reform has directly contributed to this enhanced capacity. Source
Furthermore, analysts predict that companies like Amazon and Meta will see tax savings of up to $15.7 billion and $11 billion, respectively. Overall, an estimated $148 billion in cash tax savings could be available for S&P 500 companies. This represents about 8.5% of their estimated free cash flow for the year. Source
The One Big Beautiful Bill is more than just a piece of legislation; it’s reshaping how companies view growth and investment in the U.S. This moment marks a turning point for many businesses ready to expand and thrive.