07.01.2025 Public Finance
Arnold Ventures Issues Statement on Senate Passage of the One Big Beautiful Bill
Rhee: “The Senate-passed OBBB flagrantly violates the House’s reconciliation instructions and disregards the House Fiscal Framework to align revenue and spending cuts.”
WASHINGTON, D.C. (July 1, 2025) — Arnold Ventures President and CEO Kelli Rhee issued the following statement after the Senate passed the One Big Beautiful Bill (OBBB):
“Our nation is facing a deep fiscal crisis. Instead of responsibly addressing it, the Senate advanced one of the largest budget-busting pieces of legislation in American history. The Senate-passed OBBB flagrantly violates the House’s reconciliation instructions and disregards the House Fiscal Framework to align revenue and spending cuts.
“The bill does not go nearly far enough to adopt pro-growth policies that also address the national debt. In health care, it misses key, commonsense opportunities to generate meaningful savings for taxpayers and lower costs for seniors and the disabled without reducing coverage. Those opportunities include site-neutral payment reform and reductions in overpayments to Medicare Advantage plans.
“That said, the bill does make meaningful progress on improving higher education policy by better aligning federal spending with economic outcomes. Provisions to cap graduate lending and hold programs accountable for poor performance are important steps forward. The House should build on this progress by adding a debt-to-earnings ratio to ensure students are receiving degrees with real economic value.
“The House must now hold the line. Lawmakers should honor their commitment to a fiscally responsible framework and ensure that any final legislation adheres to the principles laid out by 37 Members after House passage. Americans deserve a package that is pro-growth, fiscally sound, and worthy of the President’s signature.”
Earlier this year Arnold Ventures released a report identifying 20 policy options — from spending cuts to tax loophole closures — that could save up to $4 trillion. These reforms would allow Congress to extend key TCJA provisions without adding to the national debt.
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Arnold Ventures is a philanthropy that supports research to understand the root causes of America’s most persistent and pressing problems, as well as evidence-based solutions to address them. By focusing on systemic change, AV is working to improve the lives of American families, strengthen their communities, and promote their economic opportunity. Since Laura and John Arnold launched their foundation in 2008, the philanthropy has expanded, and Arnold Ventures’ focus areas include education, criminal justice, health, infrastructure, and public finance, advocating for bipartisan policy reforms that will lead to lasting, scalable change. The Arnolds became signatories of the Giving Pledge in 2010.
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