Trump Signs ‘One Big Beautiful Bill’ Boosting Industry, Tax Policies

President Donald Trump's 'Big Beautiful Bill' has been widely praised across multiple industries for its broad impacts on tax policy, manufacturing, and public benefits. The retirement sector expressed relief that harmful retirement tax provisions were avoided, though they were disappointed by the exclusion of a significant measure to use surplus pension funds for employee benefits. The real estate industry welcomed key provisions such as the increase in the state and local tax (SALT) deduction cap, which supports homeownership and investment in housing, despite some limitations for higher-income taxpayers. The waste and recycling sectors lauded the extension of clean fuel production tax credits, which incentivize American-made energy from organic waste, although some clean energy credits were cut. Automotive and manufacturing groups highlighted the bill's support for domestic production and advanced manufacturing credits, which bolster battery manufacturing and supply chain resilience, though the accelerated phaseout of electric vehicle tax credits could challenge EV adoption. Additionally, the medical technology industry praised the bill for fostering a pro-growth environment with tax provisions that support research, development, and capital investment, reinforcing America's global leadership in medtech manufacturing.