The House Budget Committee has advanced a package including tax and other priorities. The narrow 17-16 vote advanced a bill that includes extensions of the 2017 tax cuts, exemptions for tips and overtime pay, and increased defense and immigration spending. Changes are expected to be made by the Rules Committee, which is likely to consider the bill on Wednesday.

The National Association of Wholesaler-Distributors is advocating for the passage of the "One Big Beautiful Bill," which includes numerous tax provisions beneficial to small businesses and workers. Key features of the bill include making the 199A deduction permanent, increasing the death tax exemption and restoring 100% bonus depreciation. NAW says the legislation would provide continued tax relief for millions of US small businesses and the majority of wholesaler-distributors.

US firms are grappling with significant cost increases due to the stacking of multiple tariffs on Chinese goods, despite a temporary pause on the steepest tariffs by the Trump administration. Importers are facing tariffs ranging from 40% to over 70% due to the combination of existing tariffs and additional charges, putting financial pressure on companies that is leading to price hikes and cutbacks in product offerings.

Inflation expectations reached 7.3% in April, the highest since 1981, the University of Michigan reports. Those concerns plus President Donald Trump's exhaustive and often-changing tariffs pushed consumer sentiment down to 50.8 for the first part of this month, just above the June 2022 record low.

Three-quarters of US freight firms report strong demand, but a labor shortage is a major hurdle, with 25% of firms citing it as the biggest issue, according to a Tech.co survey. "The labor crisis in the trucking industry has been a ticking time bomb for years, and the fuse is only getting shorter," said Tech.co's Jack Turner. "Unless the industry can attract more people, especially younger generations, it risks losing huge volumes of potential business."

Cognitive supply chains -- the latest evolution in supply chain management -- feature networks that can anticipate disruptions and autonomously implement solutions. These systems utilize continuous learning, contextual intelligence and autonomous decision execution to enhance resilience and efficiency. To implement this effectively, organizations must align cross-functional leadership teams, create unified data models and define clear and quantifiable success metrics.

B2B marketers must emphasize brand consistency to stand out in crowded markets, writes Frontify's Digge Zettenberg-Odh. The "hidden buyer" roles rely heavily on brand perception, making it crucial for companies to maintain a unified brand presence. However, the surge in asset creation has made this challenging, leading to operational inefficiencies and inconsistencies that can erode trust and affect ROI, Zettenberg-Odh writes.

As a leader, it can be tempting to think you know it all, but leadership coach Ross Judd writes that the one skill great leaders have is the ability -- and humility -- to listen to those around them, even if you have to weed out good feedback from the noise. Build your listening skills by recognizing when team members drop hints about deeper conversations they want to have, then give them your full attention and summarize what you hear for clarity, Judd writes. "The best part is that the more you listen and seek their input, the more your people will gather information for you," Judd notes.

Walmart is preparing for significant price increases in some departments as the retail giant adjusts to tariffs, says CFO John David Rainey. Rainey said items like electronics, toys, car seats and baby strollers are among the product categories that will see the highest price hikes. "We're going to keep prices as low as we can as long as we can," said Rainey. "But when you look at the magnitude of some of the cost increases on certain categories of items that are imported, it's more than what retailers can bear. It's more than what suppliers can bear."

Prioritize your organization's greatest asset — your people. NAW's premier education programs, such as the online Management Academy and the in-depth Distribution Leadership Program at THE Ohio State University, are designed to equip your high-potential employees with the skills and insights they need to lead and succeed. Ensure your rising stars are prepared to drive your business forward by investing in their growth today. Learn more about how NAW can help you develop the leaders of tomorrow.

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