SIFMA released the following statement from Kenneth E. Bentsen, Jr., SIFMA President and CEO, on the passage of the budget reconciliation bill known as the One Big Beautiful Bill:
“SIFMA congratulates President Trump and Congressional leadership on the passage today of the One Big Beautiful Bill (OBBB). The OBBB’s extension of expiring individual and business tax provisions avoids dramatic tax increases that would negatively impact economic growth.
Importantly, SIFMA appreciates that lawmakers chose to reject certain provisions that could have negatively impacted foreign direct investment in U.S. capital markets and financial assets which would have resulted in negative economic consequences for the markets and the nation. Further, the Administration and Congress wisely avoided unnecessarily upending the U.S. treasury market and the ensuing catastrophic consequences by addressing the debt limit. We commend policy makers for taking this necessary action.”
