Washington, D.C., July 3, 2025 – 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.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy, affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.