New RSM research shows OBBBA is reshaping how middle market companies invest, grow, and create value

More than half of middle market executives expect the legislation to accelerate growth, while nearly 60% plan to increase capital investment as they incorporate key tax provisions into broader business and capital allocation strategies

CHICAGO, Sept. 10, 2026 /PRNewswire/ -- RSM US LLP, the leading provider of assurance, tax and consulting services focused on the middle market, today released its latest Middle Market Business Index (MMBI) special report, The OBBBA moment: Tax policy meets capital allocation, which examines how middle market companies are assessing the tax provisions within the One Big Beautiful Bill Act (OBBBA) and its potential impact on investment and growth decisions.

Based on a survey of 500 senior executives at U.S. middle market companies, the report finds that many organizations are viewing the law through a broader strategic lens. Rather than evaluating the legislation solely as a tax bill, companies are factoring its provisions into decisions involving capital investment, innovation, financing, workforce strategy, mergers and acquisitions, and long-term growth planning.

"The findings underscore that tax policy can influence business behavior by affecting the economics of investment decisions," said James Alex, principal and U.S. public policy and government affairs leader at RSM US LLP. " What we're seeing is that OBBBA is becoming more than a tax issue. For many middle market companies, it is informing decisions about capital allocation, innovation, workforce investment and growth. The companies positioned to benefit most will be those that view these incentives as part of a long-term strategic agenda rather than a short-term tax planning exercise."

Among the report's key findings:

• 51% of executives familiar with the law expect it to have a positive impact on future growth, while 53% anticipate a positive effect on after-tax cash flow.
• 59% plan to increase capital investment over the next three years because of the law's immediate expensing provisions for qualifying property.
• Among executives planning to invest more, 70% expect most of that spending will come from accelerating projects already under consideration, underscoring the legislation's potential to influence investment timing as much as overall spending levels.
• Executives cited a wide range of priorities for applying OBBBA-related benefits, including capital investment (89%), balance sheet strengthening (87%), compensation and benefits (86%), innovation and research and development (84%), tax management (82%), investor returns (82%), hiring (76%) and mergers and acquisitions (76%).
• Organizations planning innovation investments are prioritizing increased domestic R&D spending, expansion of internal R&D teams and acceleration of planned research projects.

The report also highlights a broader challenge facing middle market companies: making investment decisions in an increasingly complex policy environment. As tax considerations become more intertwined with strategic business decisions, organizations need to integrate tax, financial and operational data when evaluating investment opportunities. That need is especially important as companies assess the interplay among bonus depreciation, domestic research expensing and interest deductibility provisions. Executives increasingly need timely insights to evaluate competing investments, model returns and make confident capital allocation decisions.

The special report includes one flagship analysis and four supporting articles exploring the intersection of tax policy, investment decisions, data and technology, financial reporting, and workforce strategy.

The survey was conducted by The Harris Poll on behalf of RSM among 500 senior executives at middle market companies with annual revenue between $30 million and $10 billion. Fieldwork was conducted online and by telephone from April 1 through April 23, 2026.

About the research
The RSM US Middle Market Business Index quarterly survey tracks the sentiment and priorities of middle market executives and provides insight into the economic and business issues shaping the middle market.

About RSM US LLP
For 100 years, RSM has empowered middle market companies worldwide to take charge of change. The clients we serve are the engine of global commerce and economic growth. Our unique understanding of the middle market makes RSM the natural choice for growth-oriented, internationally active organizations seeking relevant insights and tailored, innovative solutions for a complex and changing world. With a global reach spanning more than 120 countries, we instill confidence in a world of change by bringing the full power of RSM to make a lasting impact on our clients, colleagues and communities. For more information, visit rsmus.com, like us on Facebook and/or connect with us on LinkedIn.

SOURCE RSM US LLP