Oklahoma U.S. Sen. James Lankford says the Senate passage of President Trump’s One Big Beautiful Bill was a “big beautiful win for Oklahoma families, workers, seniors and small businesses.
It was his reaction after he was among the Republican Senators who supported the measure which approved on a 51-50 vote Tuesday. The Senator claimed it will deliver the largest tax cut in history for hardworking Americans, secure the border, strengthen Medicaid program integrity, rebuild the military and cut out-of-control spending.
“This is a big, beautiful win for Oklahoma families, workers, seniors, and small businesses,” said Lankford. “This bill halts the largest tax increase in history, secures the border, and contains the most significant entitlement reform in years. I fought to make sure Oklahoma values were reflected in this package – protecting charitable giving, supporting energy jobs, and making it easier for businesses to grow and hire American workers.”
Lankford’s office credited him with securing “key wins” in the bill including his securing of the charitable deduction for non-itemizers, allowing couples to deduct up to $2,000 in donations and hellp more Americans support local churches, charities and non-profits.
Lankford also led the repeal of the Biden administration’s tax penalty on oil and gas producers by restoring key investment deductions, according to an announcement by his office. This will allow energy producers to reinvest, create jobs, and keep energy prices stable.
He also worked to make full, immediate expensing permanent so businesses can deduct the full cost of equipment and technology up front. This will drive expansion, innovation, and job creation across Oklahoma.
The Senator contended that if the bill had not been passed in the Senate, the President’s 2017 tax cuts were set to expire, a move that would have resulted in the loss of a “staggering” 63,000 jobs, a $2,013 tax increase for the average Oklahoma family, and a 50% redution in the child tax credit for nearly 449,000 Oklahoma households. The Senator said more than 233,000 Oklahoma small business owners would have been hit with “significant” tax hikes and more than 1.5 million families would have had their standard deduction cut in half.
How this bill helps families
- This bill delivers the largest tax cut in history, which will result in higher wages and higher take home pay. This is also the most substantial entitlement reform in years, which will help our safety net programs stay viable for those in need.
- The average family will save about $5,000 in additional taxes next year.
- There will be no tax on tips, an increased standard deduction for seniors, no tax on overtime, and a tax break for those who buy new cars made in America.
- This bill will also give families $2,200 per child up to 16 years old every year. It will also create a savings account for every child born between 2025 and the end of 2028 – each account would start with a $1,000 deposit that parents can invest for their kids, giving kids a financial boost from birth.
- In Oklahoma, the long-run wage increase is projected to go from $4,800 to $9,100 according to the Council of Economic Advisers.
- In Oklahoma, the take-home pay increase for a family of four is projected to go from $6,500 to $10,800 according to the Council of Economic Advisers.
- This bill also expands the adoption tax credit and indexes it for inflation. It also allows for tribal governments to decide when a child qualifies as having special needs to extra help under the credit. When adoption can cause as much as $60,000, this tax credit will make it easier for families to welcome a child in need into their lives and homes.
- Police officers, firefighters, truckers, linemen, and others who work overtime will take home an average of more than $1,300 a year because of the no tax on overtime in this bill.
- Those who buy a new American-made car will be able to write off some of the interest from their car loan, which will help families and American manufacturing.
How this bill helps seniors
- Seniors who make less than $75,000 as an individual or a couple who makes less than $150,000 will see a $6,000 increase in their standard deduction regardless of whether they are receiving Social Security yet or not.
How this bill helps vulnerable and disabled patients
- This bill is good news for vulnerable and disabled patients because it protects the aged, blind, and disabled from changes to Medicaid. It also blocks Biden’s nursing home staffing mandate that threatened rural care facilities, it boosts physician payments to offset cuts that the Biden administration had implemented, and it ensures continued access to care and incentivizes innovation, especially for those with rare diseases or who need access to telehealth options. It also prohibits tax dollars from going to Planned Parenthood through Medicaid.
How this bill helps farmers and ranchers
- This bill delivers wins for rural America by expanding the farm safety net, strengthening crop insurance, and supporting agricultural trade. The bill also restores accountability in nutrition programs and ensures food assistance serves Americans in need, not illegal immigrants.
- This bill would keep two million family farms safe from the death tax by making permanent death tax exemptions from the 2017 Trump Tax Cuts and Jobs Act.
How this bill incentivizes giving to charity
- Sen. Lankford was proud to lead on restoring a tax deduction for non-itemizers – up to $2,000 per couple – which will help more Americans support charities, houses of worship, and non-profits, especially those that serve the most vulnerable.
How this bill helps energy production
- Sen. Lankford also led a repeal of the Biden administration’s unfair tax penalty on oil and gas producers by restoring key investment deductions, which will allow domestic energy producers to reinvest, create jobs, and keep energy costs stable.
How this bill helps businesses
- Sen. Lankford worked to make full, immediate expensing permanent, so businesses can deduct investments like equipment and technology up front, which will help fuel job creation and business expansion.
How this bill cracks down on illegal immigration
- This bill devotes $160 billion to hire more Border Patrol Agents, more ICE officers, and to finish the border wall and invest in technology to secure the border.
How this bill helps our air traffic control system
- The bill invests $12.5 billion to modernize America’s air traffic control system, by replacing outdated equipment, upgrading safety infrastructure, and expanding controller training so we continue to have the safest skies in the world.
How this bill strengthens our national defense
- This bill provides $150 billion to strengthen our military, rebuild our defense industrial base, and support border security missions. It also funds the Golden Dome initiative, boosts efforts to counter China, improves the quality of life for our servicemembers, invests in the tools needed to improve Pentagon accountability and delivers a clean audit.