Associated Builders and Contractors today issued the following statement after 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.

“On this July 4, 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,” said Kristen Swearingen, ABC vice president of government affairs. “This new law provides long-overdue tax certainty that empowers construction businesses to invest in their workforce, expand operations and keep America building.”

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 strongly supports the following reforms included in the bill:

“Now that this critical legislation has been signed, we urge Congress and the administration to build on this momentum by enacting additional reforms to reduce regulatory burdens on businesses,” Swearingen said. “Smart, targeted regulatory relief will give contractors even greater ability to create jobs, strengthen their communities and drive economic growth nationwide.”

ABC and its 67 chapters, representing more than 23,000 members and millions of construction workers, have been strong advocates for this legislation and joined with other organizations representing Main Street businesses in support of its passage.