Labor & Employment Law Daily Wrap Up, WHITE HOUSE NEWS—White House claims ‘One Big Beautiful Bill’ will protect jobs, spur growth, (Jun 25, 2025)
Organizations Mentioned:Bank of America | National Association of Manufacturers
By WK Editorial Staff
The White House cited the National Association of Manufacturers for a prediction that “Six million jobs could be lost” if manufacturers are “hit with the largest tax increase in U.S. history.”
In a news article issued yesterday, the White House adduced testimonials from “Everyday Americans” detailing how President Trump’s “One Big Beautiful Bill” proposals—described as “a generational opportunity to restore America’s economic strength and reward our hardworking citizens”—would “affect their livelihoods.” The article featured endorsements by “[a]gricultural leaders,” the National Association of Manufacturers, and the CEO of Bank of America.
Agriculture. “Agricultural leaders,” according to the White House, outlined how the “One Big Beautiful Bill” would “deliver for America’s farmers, ranchers, and producers.” The National Pork Producers Council, for instance, commented, “These investments and policy extensions offer critical support to agriculture, ensuring stability and long-term growth for farmers, ranchers, and the rural economy.”
Manufacturers. The White House also noted that the National Association of Manufacturers launched a new ad campaign “to highlight what’s at stake if the Trump Tax Cuts aren’t extended in the One Big Beautiful Bill.” According to the industry association, “If Congress doesn’t act, manufacturers will be hit with the largest tax increase in U.S. history. Six million jobs could be lost—that’s our neighbors, our communities, our futures.”
Banking CEO. Finally, according to the White House, Bank of America CEO Brian Moynihan commented that “extending the Trump Tax Cuts” could prevent “American jobs” from being “exported to foreign countries.” According to Moynihan, “These tax rates were meant to get the U.S. competitive on taxes on corporations … Remember back to people were exporting business outside the United States for lower tax rate reasons … All that’s been gone for the last seven or eight years, and so we need to make sure these extend or that will start up again.”
News: WhiteHouseNews FederalLegislation IndustryNewsTrends