Peoria Standard

Today, Congressman Darin LaHood (IL-16) supported H.R. 1, the One Big Beautiful Bill Act, which aims to fulfill promises made by House Republicans. According to Rep. LaHood, "House Republicans voted to prevent the largest tax increase in American history." He described the bill as "a bold, comprehensive piece of legislation" designed to foster economic growth and improve predictability for Americans.

Rep. LaHood emphasized several priorities within the legislation, including expanding and improving the Low-Income Housing Tax Credit. This initiative seeks to accelerate low-income housing development in rural areas through renewed credits and increased project capacity using private activity bonds.

The bill also extends the 45Z Clean Fuel Production Credit until 2031, supporting rural communities and the biofuels industry in Illinois' 16th District by creating job opportunities and expanding markets.

Additionally, Rep. LaHood's Health Savings for Families Act is part of this legislation, enhancing access to Health Savings Accounts for American families.

In April 2025, Rep. LaHood introduced the Small Business Tax Fairness and Compliance Simplification Act. The One Big Beautiful Bill Act incorporates this proposal to provide tax relief for employees in beauty salons by extending Federal Insurance Contribution Act tip taxes.

Key tax provisions include making President Trump's tax cuts permanent and providing additional relief such as no taxes on tips or overtime pay. It also expands childcare access and makes permanent certain business deductions.

Other elements of the bill focus on border security with investments in infrastructure and resources for enforcement agencies. The legislation also seeks government efficiency by reducing wasteful programs while bolstering national security against foreign adversaries like China, Russia, Iran, and North Korea.