The Tax Relief for American Families and Workers Act of 2024 has passed the U.S. House of Representatives and now moves on to the U.S. Senate. This bill “promotes the financial security of working families, boosts growth and American competitiveness and strengthens communities and Main Street businesses.” It also includes Congressman Moore’s Small Business Growth Act, which would allow small businesses to purchase essential equipment by increasing the cap on tax deductions for business investments under Section 179.

On February 12, 2024, the Salt Lake Chamber held a virtual, member briefing with Congressman Blake Moore to learn on what’s next for this bill and what this means for business.