News: Life insurance companies are launching a new ad campaign touting the industry’s benefits as Republicans put together their reconciliation bill.
The American Council of Life Insurers is airing a TV ad in the D.C. area next week that’s set to be broadcast on Fox and Fox Business, saying the industry boosts jobs and local communities.
ACLI has spent $4 million on the ad campaign so far, which also includes nationwide digital ad buys. Spots are set to air at least through the spring and summer.
The ad also touts life insurers as the “single largest investor in job-creating, innovation-driving and economy-building U.S. corporate bonds.” Watch it here.
Tax timing: The new ad buy comes as the GOP is crafting a package to extend the 2017 Trump tax cuts and grant President Donald Trump’s new priorities. Republicans have been eyeing offsets to cut down the cost of new tax cuts in the bill. That has a range of industries on edge.
ACLI President and CEO David Chavern noted that timing in a statement:
“As policymakers in Washington look to extend the Tax Cuts and Jobs Act and unleash economic opportunity, we want them to know how our industry supports and aligns with this goal.”
Remember that Republicans’ 2017 tax package raised some taxes on life insurance companies, even though many also benefited from a lower corporate tax rate in the law, per ACLI.
ACLI represents major life insurance companies like Prudential, MetLife, New York Life Insurance, Northwestern Mutual and MassMutual.
