On Feb. 6, Eric Seidman of ABC member Wouch Maloney & Co. participated in the U.S. House Republican Conference’s “Working Families Tax Cuts Coalitions Row,” where he met directly with congressional staff to discuss how recent tax policies are affecting companies on the ground.

In addition to coverage in Bloomberg Government, Seidman shared a video testimonial with the conference on some of the key benefits of the Working Families Tax Cuts Act for his clients and the construction industry as a whole. He emphasized that making the Section 199A Qualified Business Income deduction permanent would prevent a major tax increase on small business contractors, while 100% bonus depreciation continues to give firms the flexibility to invest in equipment and growth.

He also noted that restoring full deductibility of research and development expenses strengthens the R&D tax credit and provides meaningful relief to contractors, including the ability to amend prior returns. In addition, Seidman praised the expansion of Section 529 plans to cover skilled trades education, calling it a critical step toward addressing the industry’s workforce shortage and helping meet growing demand for construction services nationwide.

This legislation provides certainty to the more than 95% of all American businesses structured as S corporations, partnerships and sole proprietorships. These pass-through businesses employ 62% of the private sector workforce and form the economic backbone of virtually every community nationwide.

ABC celebrates Congress and the White House working together to bring this pro-growth tax reform to reality for the millions of hardworking Americans who build and power our economy.

Background:

On July 4, 2025, President Donald Trump signed H.R. 1, the One Big Beautiful Bill Act, into law, delivering historic tax relief to the U.S. construction industry and Main Street businesses nationwide.

ABC strongly supports the following reforms included in the bill:

• Making the Small Business Deduction Permanent and Stronger: Solidifying the Section 199A deduction will provide tax certainty for pass-through businesses, allowing contractors to reinvest in their operations and workforce without fear of future tax hikes.
• Permanent Estate Tax Relief: This provision ensures that family-owned construction businesses can pass along ownership to the next generation without facing destructive estate tax burdens.
• Restoration of 100% Bonus Depreciation: Renewing immediate expensing of capital investments through 100% bonus depreciation will encourage construction firms to invest in new equipment and technologies—boosting productivity and economic growth.
• Revived Expensing of R&D Costs: The bill permanently restores the ability for businesses to immediately deduct domestic research and experimental expenditures, providing critical support for construction innovation. Whether it’s hands-on problem-solving that happens on jobsites or improving project delivery methods, this provision gives contractors the financial flexibility to invest in finding better, faster and safer ways to get the job done right—without waiting years to see a tax benefit.
• No Tax on Overtime for American Workers: Exempting overtime pay from federal income tax delivers direct, meaningful relief to the hardworking men and women of the construction trades—rewarding long hours on the jobsite.
• Expanded 529 Accounts for Skilled Trades Training: The legislation expands the use of 529 savings accounts to cover career and technical education in the skilled trades, helping the next generation of construction professionals enter the workforce without student debt.