"White House Council for Economic Advisers Urges Congress to Pass One Big Beautiful Bill Act for Economic Growth and Prosperity"
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"White House Council for Economic Advisers Urges Congress to Pass One Big Beautiful Bill Act for Economic Growth and Prosperity"
[!CDATA[The White House Council for Economic Advisers (CEA) has issued a memo to Congress emphasizing the importance of passing President Donald Trump's tax and spending cuts agenda through the One Big Beautiful Bill Act. The CEA highlighted the potential economic benefits of the OBBB, including job creation, increased take-home pay for families, investment stimulation, and rural community revitalization. Failure to maintain the tax cuts from Trump's first term could result in a significant tax hike and an economic downturn. Lawmakers were warned about the potential consequences of not supporting the OBBB, including a $4 trillion tax increase over 10 years and the likelihood of an economic downturn. The memo also addressed concerns about the loss of insurance coverage if Medicaid funding is not secured through the OBBB. The CEA stressed the importance of preventing the expiration of the 2017 Trump Tax Cuts and Jobs Act provisions to avoid negative economic impacts. The latest CEA memo highlighted the opportunity to avert an economic downturn by extending the 2017 TCJA and implementing the OBBB and the president's proposals. By doing so, the memo suggested that the U.S. could experience economic growth, job creation, income boosts, and enhanced competitiveness on the global business stage. The benefits of passing the OBBB, as estimated by the CEA, include various positive economic outcomes. In conclusion, the White House CEA's memos to Congress underscore the significance of passing the One Big Beautiful Bill Act to support economic growth, job creation, and overall prosperity. Lawmakers are urged to consider the potential consequences of not supporting the OBBB and to prioritize policies that will benefit the U.S. economy and its citizens.]]