Labor & Employment Law Daily Wrap Up, WHITE HOUSE NEWS—‘One Big Beautiful Bill’ will benefit wages, federal deficit, says White House, (Jun 26, 2025)

By WK Editorial Staff

The article followed a prior White House news post the same day titled “Iran’s Nuclear Facilities Have Been Obliterated—and Suggestions Otherwise are Fake News.”

A White House article published yesterday claims that, according to an analysis by the Council of Economic Advisors, President Trump’s “One Big Beautiful Bill” will “boost real wages, reduce the deficit, produce meaningful economic growth, and bring stability to the national debt.”

Wages and take-home pay. The article asserts that “topline findings” from the report indicate that “[r]eal wages for workers will increase by as much as $7,200 per year,” and “[a]fter-tax take-home pay for a typical family with two kids will increase by as much as $10,900 per year.”

GDP growth and new jobs. Further, at least 1.1 percentage points will be added to annual real GDP growth, according to the article, and “7 million jobs will be protected and created.”

Deficit reduction. Finally, according to the reported findings, “deficits will be reduced by as much as $11.1 trillion—including as much as $5.2 trillion from economic growth, $1.6 trillion from discretionary spending cuts, $2.8 trillion from tariff revenue, and as much as $1.5 trillion from interest savings.” And “The debt-to-GDP will fall to between 88% and 99%—versus rising to 117% if the Trump Tax Cuts aren’t extended in the One Big Beautiful Bill.”

News: FederalLegislation EconomicNews WhiteHouseNews