For this week’s Foxx Report, I’m exposing a handful of common myths about the One Big Beautiful Bill Act (OBBBA) that Democrats in Washington continue to peddle on social media and that their dutiful partners in the mainstream media have been spreading as well. With each myth that I call to your attention, there will be corresponding facts, courtesy of Republicans on the House Budget Committee, that will provide information on the OBBBA that Democrats do not want you to know. As Speaker Johnson has stated previously, this legislation is jet fuel for America’s economy – and those who consistently get things wrong, such as the Congressional Budget Office (CBO), continue to overlook how important and transformative this legislation really is.

MYTH: The OBBBA does nothing for rural America.

FACTS:

• It saves two million family-owned farms from the death tax.
  
• It protects rural health care by overturning the Biden-Harris administration’s one-size-fits-all nursing staff mandate that would cut seniors’ access to care.
  
• It helps American farmers compete by increasing access to the global marketplace.
  

MYTH: The OBBBA gives "tax cuts only to the wealthy, the well-off, and the well-connected".

FACTS:

It delivers the largest tax cut for working and middle-class families in history.

• Hardworking Americans and families will see an average increase in take-home pay of $10,000 a year.
  
• Boosting the Child Tax Credit to $2,500 for 40 million families.
  
• Historic tax cuts for seniors.
  
• No tax on car loan interest for American-made cars.
  
• Expanding Health Savings Accounts (HSAs) to give Americans greater choice and flexibility in how they spend their money on their health.
  
• Investment savings accounts to set all newborn American kids on the path to financial security from the very beginning.

MYTH: The OBBBA provisions won’t bolster our national security or keep us safe.

FACTS:

• President Biden and the Democrats' weak leadership hurt our standing on the world stage.
  
• OBBBA is our chance to make a generational investment in our national defense and restore peace through strength.
  
• The bill makes a historic investment in President Trump's Golden Dome missile defense shield, which will defend the homeland from rising threats.
  
• It gives us a chance to modernize America's military - including $9+ billion to improve quality of life for our servicemembers, $20+ billion to bolster U.S. munitions production, and $12+ billion to modernize our nuclear arsenal.
  
• America's shipbuilding and maritime industrial base will be reinvigorated.
  
• There is a historic increase in funding for the U.S. Coast Guard, which will help block illegal aliens from entering our country, stem the flow of fentanyl, and protect our sovereignty in the Arctic.
  
• The bill permanently secures the border.

MYTH: The OBBBA puts “big oil” first.

FACTS:

• The One Big Beautiful Bill Act puts Americans first ending Biden's war on American-made energy and strengthening our energy security.
  
• The legislation will unleash our domestic energy resources - including oil, natural gas, and coal - and will make long-term investments to secure American energy dominance into the future. Increased domestic energy production lowers energy prices, ultimately lowering everyday costs for American families and small businesses.
  
• Because energy security is national security, OBBBA makes critical investments to refill the Strategic Petroleum Reserve, which was drained by the Biden administration for political gain.
• The bill requires the Secretary of the Interior to hold yearly geothermal lease sales, sharing energy revenues with states and counties, and making significant investments in water storage infrastructure across the West.
  
• Oil and gas production is the second-largest revenue source for the federal government after taxes. In fact, oil and gas production on federal lands and waters generated roughly $16 billion in Fiscal Year 2024.
  
• The United States produces energy safer, cleaner, and more efficiently than any other country. Increased domestic production is a win, win, win.
  

Additionally, here are some other important facts – courtesy of the Council of Economic Advisers (CEA) – that show how the OBBBA will positively impact North Carolina:

• CEA finds that passage of the full suite of policies proposed by the Administration for the OBBB will raise long-run wages in North Carolina by an inflation-adjusted range of about $5,500 to $10,500.
  
• A typical family with two children in North Carolina can expect to see higher take-home pay of about $7,200 to $12,200 if OBBB is passed into law compared to if it is not.
  
• Around 5% of the labor force is employed in occupations that would likely benefit from the no taxes on tips provision of the OBBB.
  
• Around 25% of all employees in North Carolina regularly work overtime and could benefit from the no tax on overtime provision of the OBBB. An even larger 62% of workers in North Carolina are in occupations that are likely eligible for overtime and could also benefit.

Jobs, Businesses, and Housing

• CEA finds that the full suite of policies proposed by the Administration for the OBBB will protect about 205 thousand full-time equivalent jobs in North Carolina over the next four years relative to if the Tax Cuts and Jobs Act is allowed to expire.
  
• There are several provisions in the OBBB that will boost the manufacturing industry. In North Carolina, about 4% of firms, 3% of establishments, and 11% of employment is in the manufacturing sector.
  
• Passage of the OBBB will extend the 199A passthrough deduction for small businesses. There are about 153 thousand firms in North Carolina which could be eligible for the deduction, or about 43% of all firms.

As always, I will continue to bring the facts directly to you and expose the misinformation that continues to come from Washington Democrats. I look forward to sharing more with you, and correcting the record further, in future newsletters.

 Have a blessed weekend,