WASHINGTON, DC - SBA Administrator Linda McMahon released the following statement regarding the historic passage of the Tax Cuts and Jobs Act (H.R. 1).

"As the first major update to the tax code since 1986, passage of the Tax Cuts and Jobs Act is a monumental achievement that can serve as an inspiration for every American who has ever dreamed of opening a small business. As I've traveled around the country, small business owners have repeatedly told me that they want lower taxes, less burdensome regulations and a simplified tax code. The bill as passed today successfully delivers in these areas and upholds the commitment that the President made to the American people to promote pro-growth economic policies.

"I am confident that small business owners across the country will see increased opportunities for the development and expansion of their businesses in the upcoming years as a result of this important legislation. I applaud Congress for their hard work and thank President Trump for placing such a high priority on issues that matter to small business owners."