Independent Women Features (IW Features) has released a new documentary focusing on the Cangiolosi family, whose pastry business in Michigan benefited from the 2017 Tax Cuts and Jobs Act. The documentary highlights how these tax cuts have supported the growth of their family-owned business.
Anthony Cangiolosi, one of the partners in the family business, discussed how the tax cuts impacted their operations: “When we save money in regards to a simple thing like tax cuts, we’re able to give that money back to our employees, and also grow our business and allow us to employ more people as well.”
The Cangiolosi family credits two specific provisions from the Tax Cuts and Jobs Act for their success: Section 199A, which allows small businesses to deduct up to 20% of qualified income, and expanded bonus depreciation for equipment purchases.
With Congress considering the “One, Big Beautiful Bill” Act that could make these tax provisions permanent, there is concern about potential expiration at year-end. Anthony noted that if these cuts expire, it would restrict cash flow and hinder business growth.
Kaylee McGhee White from IW Features emphasized the importance of these tax cuts for small entrepreneurs like the Cangiolosis: “The tax cuts at the center of this legislation have been vitally important in helping small entrepreneurs like them achieve success.”
Patrice Onwuka from Independent Women’s Center for Economic Opportunity remarked on broader economic impacts: “Too often, policymakers find ways to quench the entrepreneurial spirit… Conversely, the 2017 Tax Cuts and Jobs Act–or Trump tax cuts—spurred an economic revolution.”
IW Features continues to showcase stories of American entrepreneurs benefiting from policies promoting economic freedom and flexibility.
