American Council of Life Insurers (ACLI) President and CEO Dirk Kempthorne issued the following statement on the release today of the tax reform framework:

WASHINGTON, D.C., (Sept. 27, 2017) – “ACLI commends congressional tax writers and the Trump administration for their commitment to comprehensive tax reform with the goal of promoting economic growth and job creation. As an industry whose products and services provide financial protection and peace of mind to 75 million American families, life insurance companies and our policyholders have a significant stake in tax reform.

“The life insurance industry serves as a private-sector safety net for families by providing financial and retirement security through life insurance, retirement plans and annuities, and long-term care and disability income insurance. A strong life insurance industry helps Americans prepare for their financial futures, alleviating pressure on government programs.

“ACLI knows how important tax reform is as a potential facilitator for economic growth and we would very much like to support tax reform. ACLI is committed to being constructive participants in the legislative process to advance tax reform.  ACLI looks forward to reviewing any legislative text to ensure that it strengthens the private sector safety net that millions of Americans rely on for their financial and retirement security.”

The American Council of Life Insurers (ACLI) is a Washington, D.C.-based trade association with approximately 290 member companies operating in the United States and abroad. ACLI advocates in federal, state, and international forums for public policy that supports the industry marketplace and the 75 million American families that rely on life insurers’ products for financial and retirement security. ACLI members offer life insurance, annuities, retirement plans, long-term care and disability income insurance, and reinsurance, representing 94 percent of industry assets in the United States. Learn more at www.acli.com.