INDIANAPOLIS — Lawmakers in Washington are working to pass President Donald Trump’s spending bill, which the administration has dubbed the "Big Beautiful Bill." On Tuesday one of the president's appointees visited Indianapolis to highlight how the bill is expected to benefit small businesses.
Small enterprises like Olson Custom Design in Indianapolis stand to gain from the proposed legislation, prompting the current Small Business Administration (SBA) administrator to pay a visit.
"I moved out here in 2006 to try to be a race car driver, and in 2014 we were both kind of getting banged up in our racing careers and needed to decide what we wanted to do with the rest of our lives,” Brian Olson, co-owner of Olson Custom Designs said.
After their racing careers were over, Olson and his brothers pivoted to manufacturing race car parts. Ten years later, the brothers now produce components for the aerospace, medical and defense industries.
"This is an incredible example of the best of made in America," Kelly Loeffler, the United States Administrator of the SBA, said. "And it also shows how under the one big beautiful bill, small businesses like this that provide for so many key industries in America are spring-loaded for growth."
The "Big Beautiful Bill" proposes to eliminate the federal tax on overtime, increase small business tax deductions, and allow companies to immediately deduct the costs of certain investments, including equipment.
"It's an arms race in our industry with technology," Mitch Olson of Olson Custom Designs stated. "So the bigger, better, faster pieces of equipment we can have help us bring the technology into Indiana and support our state."
According to the Congressional Budget Office, the bill could increase deficits by $2.8 trillion from 2025 to 2034. Loeffler, however, disputes their analysis.
"Every single day that we wait to pass this bill is one less day that small businesses and families will not have the benefit of the one 'Big Beautiful Bill,'" she emphasized.
Lawmakers in the Senate aim to send the bill to the president's desk by July 4. As of the latest updates, Republican leadership has indicated they remain on track to meet this goal.
