What Federal Tax Changes Could Mean for Yorba Linda Businesses
What Federal Tax Changes Could Mean for Yorba Linda Businesses
A strong local economy doesn’t happen by accident. It’s built each day by the small business owners who take risks, the employees who keep our city running, and the families who choose to invest their lives here. Yorba Linda has grown from a quiet suburb into a thriving city where small businesses are the backbone of our economy, fueling growth, creating jobs, and keeping our community strong.
On July 4th, President Trump signed the One Big Beautiful Bill Act (OBBBA), which builds on the elements of the 2017 Tax Cuts and Jobs Act. The bill is designed to provide greater certainty for businesses and workers through targeted tax relief and expanded investment incentives. While opinions differ on its overall approach, policies like this have direct implications for local investment, hiring, long-term planning, and economic growth in communities like Yorba Linda.
“Small businesses deserve a tax code that rewards investment and empowers success,” said Representative Young Kim. “Our local entrepreneurs are at the heart of job creation, and they need policies that give them the confidence to grow.”
Under the bill, qualified business income deductions will become permanent, providing entrepreneurs with a steadier tax outlook for planning investments and making informed hiring decisions. It permanently extends expensing for large capital investments and research and development (R&D), while expanding Section 179 expensing that allows companies to immediately deduct larger purchases of equipment and software, something many small businesses rely on to stay competitive. For Yorba Linda businesses, these provisions can translate into greater flexibility to upgrade technology, improve customer service, and create jobs that sustain local families.
For working families, the bill offers longer-term stability by making certain tax relief provisions more predictable. Lower individual tax rates and an enhanced standard deduction are made permanent. That predictability can make a real difference in how families plan their finances, whether saving for college, paying off a mortgage, or investing back into the local economy.
“As a small business owner and entrepreneur, we are constantly seeking new and innovative ways to stay competitive in the business world, especially as we compete against larger and better capitalized businesses,” said Frank Stefano, Owner of Stefano’s Golden Baked Hams. “The One Big Beautiful Bill Act gives small businesses options to invest in upgraded technology, improved customer service, and job creation."
The Yorba Linda Chamber worked closely with the U.S. Chamber of Commerce in advocating for permanent tax relief for small businesses. As part of our advocacy efforts, we’ve had regular conversations with Congresswoman Kim and her staff about the needs of our local businesses. Cutting taxes and red tape have been regularly cited as top priorities; however, the workforce has also been an enduring challenge for many of our businesses. Thankfully, the OBBBA includes enhanced tax incentives for employers that provide childcare, dependent care, and contribute to employees’ student loan payments. Many of these provisions will help Yorba Linda businesses attract and retain talent.
We appreciate Rep. Kim’s engagement with our local business community and her willingness to listen to how these policies may impact Yorba Linda employers. Our discussions have underscored that policy decisions made in Washington don’t exist in a vacuum; they have real consequences for the local economy and the people who keep it running.
At the end of the day, legislation like the One Big Beautiful Bill isn’t just about tax policy; it’s about people and our community. It’s about the small business owner deciding whether to expand, the family planning for their future, and the local employer working to keep jobs close to home. As policies continue to evolve, our focus should remain on what strengthens Yorba Linda for everyone who lives and works here.
On July 4th, President Trump signed the One Big Beautiful Bill Act (OBBBA), which builds on the elements of the 2017 Tax Cuts and Jobs Act. The bill is designed to provide greater certainty for businesses and workers through targeted tax relief and expanded investment incentives. While opinions differ on its overall approach, policies like this have direct implications for local investment, hiring, long-term planning, and economic growth in communities like Yorba Linda.
“Small businesses deserve a tax code that rewards investment and empowers success,” said Representative Young Kim. “Our local entrepreneurs are at the heart of job creation, and they need policies that give them the confidence to grow.”
Under the bill, qualified business income deductions will become permanent, providing entrepreneurs with a steadier tax outlook for planning investments and making informed hiring decisions. It permanently extends expensing for large capital investments and research and development (R&D), while expanding Section 179 expensing that allows companies to immediately deduct larger purchases of equipment and software, something many small businesses rely on to stay competitive. For Yorba Linda businesses, these provisions can translate into greater flexibility to upgrade technology, improve customer service, and create jobs that sustain local families.
For working families, the bill offers longer-term stability by making certain tax relief provisions more predictable. Lower individual tax rates and an enhanced standard deduction are made permanent. That predictability can make a real difference in how families plan their finances, whether saving for college, paying off a mortgage, or investing back into the local economy.
“As a small business owner and entrepreneur, we are constantly seeking new and innovative ways to stay competitive in the business world, especially as we compete against larger and better capitalized businesses,” said Frank Stefano, Owner of Stefano’s Golden Baked Hams. “The One Big Beautiful Bill Act gives small businesses options to invest in upgraded technology, improved customer service, and job creation."
The Yorba Linda Chamber worked closely with the U.S. Chamber of Commerce in advocating for permanent tax relief for small businesses. As part of our advocacy efforts, we’ve had regular conversations with Congresswoman Kim and her staff about the needs of our local businesses. Cutting taxes and red tape have been regularly cited as top priorities; however, the workforce has also been an enduring challenge for many of our businesses. Thankfully, the OBBBA includes enhanced tax incentives for employers that provide childcare, dependent care, and contribute to employees’ student loan payments. Many of these provisions will help Yorba Linda businesses attract and retain talent.
We appreciate Rep. Kim’s engagement with our local business community and her willingness to listen to how these policies may impact Yorba Linda employers. Our discussions have underscored that policy decisions made in Washington don’t exist in a vacuum; they have real consequences for the local economy and the people who keep it running.
At the end of the day, legislation like the One Big Beautiful Bill isn’t just about tax policy; it’s about people and our community. It’s about the small business owner deciding whether to expand, the family planning for their future, and the local employer working to keep jobs close to home. As policies continue to evolve, our focus should remain on what strengthens Yorba Linda for everyone who lives and works here.