WASHINGTON—American Council of Life Insurers (ACLI) President and CEO David Chavern made the following comment on the proposed tax bill released today by the House Ways & Means Committee:

“Chairman Smith is advancing a landmark bill to prevent a tax increase on families and small businesses and strengthen the hand of working Americans. Life insurers appreciate this leadership and share the proposal’s core mission for greater financial security and economic opportunity, putting life into America by helping families plan, protect, and thrive.”

The American Council of Life Insurers is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. 90 million American families rely on the life insurance industry for financial protection and retirement security. ACLI’s member companies are dedicated to protecting consumers’ financial wellbeing through life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, and dental, vision and other supplemental benefits. ACLI’s 275 member companies represent 93 percent of industry assets in the United States.