WASHINGTON—American Council of Life Insurers (ACLI) President and CEO David Chavern made the following comment today on President Trump signing the One Big Beautiful Bill Act:   

“The One Big Beautiful Bill Act will avert a major tax increase on working Americans and, very importantly, allow the life insurance industry to continue to help families and small businesses create financial security and economic opportunity. Life insurers put life into America by helping families plan, protect, and thrive. We applaud congressional leaders and Administration officials for achieving this outcome and their recognition of the importance of lifetime financial security and protection.” 

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.