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On July 3, President Donald Trump’s “One Big Beautiful Bill” cleared its last Congressional hurdle – passing the House 218 to 214. The bill was signed into law at a White House ceremony the following day.
“The legislation maintains a consistent, fair playing field for commercial real estate entities, and even improves upon certain portions of the 2017 tax bill,” ICSC President & CEO Tom McGee said. “Our members will be able to invest more resources into their local communities because of the framework this bill provides.”
ICSC members achieved significant wins in the bill. The association's multi-year advocacy efforts included numerous stakeholder meetings with lawmakers in both chambers and Trump administration officials, both locally and in Washington, DC. ICSC members met with 141 Congressional offices during the Federal Fly-In in March and sent more than 1,500 emails this year to Congress on our tax priorities. The final bill is a testament to these efforts.
Key tax items in the One Big Beautiful Bill include:
For more information contact Phillips Hinch at phinch@icsc.com.
ICSC SVP Public Policy Moutray McLaren, Senator Tim Scott (R-SC), Shay Hawkins, tax counsel for Sen. Scott, ICSC President & CEO Tom McGee and EDENS CEO Jodie McLean discuss tax issues included in the "One Big Beautiful Bill" during a meeting on June 18.