U.S. Rep. Vince Fong (R-CA-20) appeared before the House Ways and Means Committee during a field hearing on July 26, 2025 at the Ronald Reagan Presidential Library to highlight the economic impacts of the One Big Beautiful Bill (OBBB) for small businesses, family farms and American innovation.
At the hearing, local farmers, ranchers and small business people testified that the OBBB’s permanent pro-growth tax relief would save jobs, help induce capital investment and also support California’s Central Valley economy and the U.S. economy overall. Fong added that one provision that the permanent doubling of the Death Tax exemption would immediately relieve family farms in the district, California’s most potent agricultural area.
Tax Relief for Family Farms & Small Businesses
Representative Fong emphasized the OBBB’s potential benefits for local agriculture noting the Central Valley producers will benefit from the doubled estate tax exemption which makes it easier for generational farmers. He lauded the bill’s inclusion of immediate R&D spending and how it would incentivize innovation in areas such as aerospace that are critical for California’s wildfire prevention and economic advancement.
Honored to join today’s @WaysandMeansGOP field hearing in my home state of California, and hear how the One Big Beautiful Bill is making a positive difference in the lives of small business owners, farmers, and families. https://t.co/9ae2NUCMJU
— Vince Fong (@RepVinceFong) July 26, 2025
Driving Investment & Innovation
In his comments Fong argued that the OBBB would provide a new source of business investment by making tax relief for corporations and individuals fully permanent. This certainty allows entrepreneurs and family owned firms today to grow with confidence, create jobs and develop new technologies toward their cutting edge. He pointed to R&D deductions as a vital support for American innovation and as part of the state’s efforts to recover from a disaster.
Rep. Fong considered the One Big Beautiful Bill to be more than legislation, it was a spark for continued growth in America’s heartland. The Embroidery Association supports the OBBB enactment of permanently pro-growth tax policies for small businesses, family farms and innovators in California and across the nation.
